ATHENS, Greece – Players in the global liquefied natural gas (LNG) sector are re-assessing the impact of high gas prices as well as targets of infrastructure development expansion amid the transitioning of many energy markets into cleaner energy solutions.

At the World LNG Summit that will kick off here today, the sector will weigh up how LNG buyers and sellers have been adopting to the transforming business environment for gas – and how these market changes have been impacting spot markets as well as the spot pricing indexes.

Multinational energy giants like Shell, bp, Chenerie Energy and ADNOC Gas will similarly evaluate if long-term contracts for LNG could turn up as viable pathway into achieving energy security across markets.

In terms of investment expansions across international markets, it will likewise be gauged how the start-up of new LNG trains by 2025-2026 will impact not just gas supply, but also the commodity’s future pricing.

For the Asian market, the global LNG sector will focus its lens on China – primarily if this Asian super power country will be retaining its current role as a ‘balancing market’ or its demand growth for gas could add up to supply pressures.

It will similarly be sized up how the ‘energy security prioritization’ of Japan and South Korea will be impacting LNG demand in the region; and if this will warrant changes in their contracting practices.

In addition, Russia’s pivot in marketing its gas to the East shall be ascertained if it will be exerting influence on the overall energy security goals of LNG markets in the Asian region.

Within the enclaves of the Southeast Asian market, in particular, the LNG sector will also pore over prospects that this region could be the one that will offset declining demand in Europe, as well as the more mature importers in North Asia.

On the core of energy transition currently being traversed by most markets worldwide, it will also be determined if the decarbonization targets of global economies will be affecting gas demand; and if LNG can still take its strategic position in eliminating energy poverty.

The Philippines is an energy market that is still at its entry phase when it comes to embracing LNG as part of its energy solution – and this is being lined up as ‘key transition fuel’ while the country navigates its way forward into having wider cleaner energy solutions – primarily renewable energy - in the decades to come.

In particular, the flexible nature of operation of the gas plants is seen as ‘the best match’ to the intermittency of renewables, hence, this is being depended upon as a technology option while the country awaits energy storage reaching more affordable price points.