Global LNG Competition Intensifies on Russia Supply Cut

The video discusses the intensifying global competition for liquefied natural gas (LNG) due to Europe's increased demand following Russia's supply cuts. This demand is impacting global markets, causing price surges and supply shortages, particularly affecting countries like Pakistan, Bangladesh, and Argentina. Japan and South Korea are accelerating LNG purchases to prepare for potential shortages. Major LNG producers like Qatar, Australia, and the US face challenges in ramping up production in the short term, with significant capacity expansions not expected until 2026.

What is causing the surge in LNG prices globally?

• Reduced demand in South America

• Increased production in North Asia

• New LNG discoveries in Europe

• Europe's increased LNG purchases

Which countries are finding it difficult to afford LNG due to high prices?

• Germany and France

• Japan and South Korea

• United States and Canada

• Pakistan and Bangladesh

What are Japan and South Korea doing in response to the LNG market situation?

• Increasing domestic LNG production

• Switching to alternative energy sources

• Accelerating their LNG purchases

• Reducing their LNG imports

What is the short-term capability of major gas producers to increase LNG production?

• They cannot increase production at all

• They can slightly increase production

• They can double their production

• They can significantly increase production

When is the expanded LNG production capacity expected to come online?

• By 2023

• By 2024

• By 2025

• By 2026