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Societe Generale expects rising global LNG supply, especially US output ramping through 2018 and 2019, to push European gas prices below the coal-switching floor. Fuel switching in Western European power will be set by short-term gas prices, which track the variable cost of shipping US LNG to Europe.
A structural LNG glut would keep European gas prices low and reduce demand for competing fuels, which is bearish for gas pricing and gas-linked markets.
lngjournal.comAnja KarlAug 15, 2017Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
