Gastech

In spite of bullish industry sentiment at Gastech, concerns over the impact of future gas oversupply remain.

Global gas industry gathering Gastech kicked off in Milan on Tuesday with U.S. and EU leaders inching closer on energy despite their opposing views on climate.

Gas prices remain low despite the extraordinary increase in U.S. LNG exports. At Gastech, industry analysts warned that the gas industry may have trouble supplying more LNG terminals without leading to a spike in prices.

Attendees at Gastech agreed that gas will play a vital role in the energy transition. But uncertainty over the pace of demand was palpable. The future of LNG demand is highly uncertain, and the rapid uptake of renewable energy and battery storage around the world has raised some doubts about bullish forecasts for LNG.