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How was the global gas market able to recover strongly during the third quarter of 2021?

 The global liquefied natural gas market was able to recover strongly during the third quarter of 2021, and to compensate for previous periods that witnessed a decline in the volume of exports, due to the spread of the Corona Virus (Covid-19) pandemic, which had negative repercussions on global economic activity, with The continuation of the dynamics of the liquefied natural gas trade, according to the report on liquefied gas and hydrogen during the third quarter of 2021.


 



The report issued by the Organization of Arab Petroleum Exporting Countries "OAPEC" added that at a time when demand increased in Asian markets and the majority of shipments were directed to them to meet demand, supplies to the European market declined, in a step to restore balance on the map of global trade between supply and demand, although This came at the expense of prices that rose to record levels.


 


The report, prepared by Eng. Wael Hamed, an expert on gas industries in the organization, indicated that it is expected that in light of these positive developments in the recovery of the global economy, the demand for liquefied natural gas will continue to grow in European and Asian markets, as well as in the Middle East region with a hot climate, because it provides Economic and environmental advantages as a fuel in many economic sectors.

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