Already grappling with a supply glut in liquefied natural gas (LNG), global gas companies face fresh challenges due to two seismic events: the COVID-19 pandemic and the global oil price shocks. Together, these developments are set to deepen and lengthen the current imbalance between supply and demand in LNG markets, leading to a lower-for-longer price environment. As a result, up to 8% of global LNG demand could be at risk (more than 25 million tonnes per annum, or MTPA) in the near term while the low-price environment could last another one to two years.
The authors of the article «Preparing for a world of complete obscurity» published in the IMF journal analysed the consequences of the Coronavirus pandemic and also tried to identify the basic principles of the international order after COVID-19.
The Center for Macroeconomic Analysis and Short-term Forecasting (CMASF) has produced a study about the impact of the coronavirus pandemic, the oil prices plunge, and the global cyclical crisis on the Russian economy.
The COVID-19 pandemic is inflicting high and rising human costs worldwide, and the necessary protection measures are severely impacting economic activity.
