The Russia-Ukraine war is in the process of resetting the energy sector, with natural gas turning into a global and interconnected market, affected by events and dynamics that are far beyond its traditional physical scope, similar – to some extent – to what oil used to be for decades.
The European gas market – until recently nearly isolated, with prices largely depending on pipeline flow dynamics between Russia and Norway – can now be driven by anything across the world, from an LNG cargo diversion in the US to a river drying up in China and tensions over Taiwan.
This has immensely accelerated the gas market’s globalization, with analysts and market participants now calling it the “new oil,” referring specifically to its geopolitical aspect, as gas is traded very differently from oil and cannot compete in terms of liquidity.
Touchstone Exploration Inc (LON:TXP) is a Canadian-based, international upstream oil and gas company currently active in the Republic of Trinidad and Tobago. Primera Oil and Gas is the Trinidadian subsidiary of Touchstone.
