Oil & Gas Sector Check: LNG Rush May Be Short Lived, Says Nirmal Bang
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Nirmal Bang Report
The sharp spike in liquefied natural gas spot prices to record levels is likely to be a short-term worry for the Indian gas sector on the margin as -
- most of India’s LNG demand is met from long-term LNG and
- the seasonal spurt in Asia and European gas demand has been above normal due to the cold wave in the Northern hemisphere/China saw the mercury dip to levels not witnessed since 1966.
We discuss the implications for the Indian gas sector, including a sensitivity analysis on key stocks and the factors behind this gas rush, which in our view is due to seasonal factors, short supply of gas and shortage of LNG ships for spot cargoes.
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