Surf's up for LNG in Europe

Everyone expected a wave of supply to be hitting Europe’s market by now. It hasn’t arrived yet, but it will

The wave of liquefied natural gas expected to hit European shores in 2016 didn’t arrive, nor is it likely to in 2017, though volumes should be higher. But a global glut is approaching and it makes 2018 the year when Europe should see a surge in supply and possibly a price war erupt with Russian pipeline gas. In a February report, the Oxford Institute for Energy Studies (OIES) likened the predictions of an LNG surge to Europe—often referred to as the “market of last resort” due to European prices tending to be the lowest on offer globally (if you exclude the net-exporter US)—as the boy who cried wolf. “Since 2015 analysts and researchers have announced the imminent arrival of a surge of LNG i