Why We Should Be Worried About Gas Prices Again
Potential strikes at major Australian LNG plants have reignited fears over global gas supplies.
A ship carrying LNG from Australia, in Qidong, China.
Source: Future Publishing/Future PublishingThis article is for subscribers only.
Gas is back as a risk to the global economy with potential strikes in major producer Australia threatening to shatter the fragile balance of global supplies -- and send consumer bills rising once more.
Demand for the fuel in the northern hemisphere is still subdued, with a couple of months to go before the start of the heating season. But the prospect of prolonged plant closures has sent wholesale gas prices soaring, and comes on top of extreme weather events that have tested energy systems this summer, as well as setbacks among other large producers.