Jason Vogler
Head of North American Gas (Houston)
Participants have been forced to develop an appreciation for global gas flows and their impacts on our domestic balances.
What exciting new regions/markets are opening up as a result of the extended gas pipeline network?
A large catalyst for change within the North American gas markets in recent years has been growth in LNG liquefaction, and the resulting connectivity of the domestic market to the global gas value chain. Domestic production grew rapidly off the back of shale gas. Much of the infrastructure changes in North America focused on the reversal of traditional regional gas flows. Now we have a build out of synchs with LNG export capabilities.
North American markets, for the first time, are importing global gas price volatility as it relates to domestic supply and demand fundamentals across Europe and Asia. Participants have been forced to develop an appreciation for global gas flows and their impacts on our domestic balances. The new market dynamic not only offers opportunities for trading participants to connect across global markets, it creates new opportunities to manage the regime shift in local markets around growing production and the related infrastructure changes.
