Global Gas Squeeze Could Last Through Next Summer

Global natural gas supply is likely to remain tighter than it should be until next summer at least, and it could cause prolonged demand destruction. Should this scenario materialize, it would deliver a severe blow to Europe, as it already struggles to cover its winter gas needs ahead of the official start of heating season, but Asia won’t be happy about it, either. The prediction comes from the International Gas Union, an industry association that covers 90% of the world’s gas producers. “The market right now is saying that…