牛津能源研究所：2024年竞争市场国际天然气价格驱动因素研究报告：四谬误与一假设（英文版）

The market for internationally traded gas has now globalized, assisted by the advent of US LNG from the Lower-48. The volume of flexible LNG has increased sharply since 2016 and was instrumental in the diversion of LNG cargoes to Europe, following the loss of Russian pipeline gas in 2022. The pricing of LNG has also changed significantly since 2016, with the traditional oilindexed long-term contracts now accounting for marginally over half of all LNG trade in 2023, as spot and hub pricing has