The Gas Exporting Countries Forum (GECF) Secretariat presented the first edition of the GECF Annual Short-Term Gas Market Report 2020, which aims to become a reference for short-term views and analysis of the global gas and LNG markets, alongside the GECF Global Gas Outlook, which provides the longer-term view on the gas market.
The publication of this report coincides with the still unfolding situation around COVID-19, an invisible virus that led to a significant slowdown in global activities with no distinction between economies and races. The pandemic is expected to leave its mark on 2020 and 2021 before allowing the expected recovery to pre-COVID-19 levels. In this context, the title of this year’s edition is Gas Market Response to Turbulence: Resilience, Reliability & Lessons Learnt.
Throughout the report, the GECF shares its independent assessment on the gas market with the main outcomes of the years 2019 and 2020, as well as the short-term prospects for the full year 2020 and 2021.
The publication sheds light on different aspects of the gas market, firstly with an overview of the main risks and challenges that the gas industry is facing today, with an analysis of the influencing factors and the critical areas for the gas industry as a whole and for GECF Member Countries in particular.
Secondly, the report provides a comprehensive analysis of the developments in the gas and LNG industry over the past two years, with a special focus on 2020 and the impact of COVID-19 on the industry. Furthermore, it highlights the short-term outlook and identifies potential opportunities and challenges that should be considered by gas producers. The topics covered include global economy and energy policy developments, natural gas consumption and supply, trade and gas prices. The combination of these factors defines the evolving architecture of the gas market.
Read the full report here.