Natural gas: published research is leaning bullish, and the reasoning is worth unpacking.
Researchers argue European gas faces real upside risk this winter. Storage heading into the cold season is relatively low, and one recent analysis warns a sharp temperature drop could trigger a genuine "gas shock" — conditional, but credible.
A separate camp of energy analysts has revised European gas forecasts higher into 2026–27, citing geopolitical supply disruptions, elevated risk premiums around key Middle East shipping lanes, and persistent market tightness that has already pushed prices above prior peaks.
On the LNG side, a contrarian-horizon view highlights a structural demand story out of Asia. Vietnam is pivoting aggressively away from domestic production and coal toward LNG-fired power — targeting a jump from 1.6 GW to 22.5 GW of LNG capacity — which adds durable long-run demand to Asian spot markets.
The views aren't really in conflict: one is a winter-specific risk, another a multi-year base case, and the third a longer structural shift. Different horizons, same broad supply-tightness thesis.