January 4, 2021
Gas Line is a quarterly publication that looks at major news stories in global gas ranging from project development to markets and geopolitics. My goal is not to cover every story but to draw connections between stories across time and space in order to shed light on the major themes that will drive global gas markets in the years ahead. My main takeaways from this quarter:
An Unprecedented Rally in Gas Prices
The bottom line: When prices hit record lows, they have nowhere to go but up. But the rebound in prices has been remarkable, helping to offset a year in which most prices reached low points for extended periods of time. This rally, however durable, will provide some support for companies looking to make investment decisions in long-term supply, muting some of the fears expressed in this piece that the spread between U.S. gas prices and those overseas might never return to their previous extreme levels. At a bare minimum, this is a reminder that volatility is