◆ Temporary price increase - smoldering hot spot
Final image of Sempra Energy's Port Arthur LNG project in the United States, final investment decision made in 2023. Operational orientation in 2027
The 24th marks two years since Russia invaded Ukraine. In 2022, the need for alternative natural gas due to Europe's withdrawal from Russia causes LNG prices to soar, causing major chaos for energy companies around the world. Although supply and demand are not tight due to record high temperatures over the past year, LNG supply capacity is still insufficient. Meanwhile, from 2025 onwards, LNG projects given final investment decisions (FIDs) after Ukraine's invasion of Ukraine are expected to start operations one after another. Natural gas prices in Europe and spot LNG prices in Asia are expected to decline temporarily, but it is likely that prices will rebound in the 1930s.
