August 23, 2023 [Reuters]- Global gas markets are well balanced with inventory levels keeping high in North Asia and Europe, but any strikes at Australia’s liquefied natural gas plants could impact short-term prices, a senior Shell executive said on Wednesday.
Gas prices have jumped in Asia and Europe on concerns that industrial action could disrupt exports from major Australian LNG plants operated by Woodside Energy and Chevron .
“Supply and demand balance in LNG is quite matched which is why we see some vulnerability (in prices),” Zoë Yujnovich, Shell’s Integrated Gas and Upstream Director, told reporters.
However, she added that there hasn’t been significant hedging or changes in buying patterns so far as a result of the potential strikes in Australia.
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