Natural gas prices are soaring across Europe and Asia, propelled by resilient demand and patchy supplies. This demonstrates how deeply gas has become entrenched in the global economy – and how poorly equipped the gas industry is to provide the affordable ‘bridge fuel’ it says the energy transition needs. The partially commoditised nature of gas trade complicates pricing, exacerbates volatility, fuels supercycles and deters investment – heaping uncertainty onto long-term gas demand. And then there is the small question of emissions.
