Natural Gas Markets and LNG
Global gas supply and demand; LNG value chain and trade; Henry Hub and international pricing
Natural Gas Markets and LNG
Executive Summary
Natural gas accounts for about 23% of global energy supply (2024), second to oil at roughly 31%. Gas markets are less unified than oil: North America has liquid, competitive markets centred on Henry Hub; Europe relies on long-term contracts and LNG; Asia often pays a premium and has less liquid spot markets. This module covers global gas supply and demand, LNG fundamentals and trade, pricing models (Henry Hub, oil-linked, hub-based, hybrid), contract types and trade flows, and the impact of the energy transition. For practitioners and consultants, it supports hedging, trading, and advisory work in gas and LNG.
Learning Objectives
By the end of this module you will be able to understand global natural gas supply, demand, and production by region, analyse LNG economics, terminals, and trade flows, evaluate natural gas pricing mechanisms (Henry Hub, pipeline spreads, international LNG), assess long-term LNG contracts vs spot market dynamics, and evaluate energy transition impacts on natural gas demand and supply.