The global liquefied natural gas spot market is expected to stay volatile until 2025 and even a normal winter in Europe could be difficult as far as gas supplies are concerned, a senior executive at Chevron said on Tuesday.

“As we go into this winter, if it’s a normal winter, it could be a very difficult time for some of the Europeans like Germany and other countries,” said Freeman Shaheen, company’s head of global gas business.

Shaheen said the company still believes in a recovery in Chinese demand.

“I think we’re all expecting them to wake up, and when they wake up, it will be quite rapid. It just hasn’t happened at that scale. China and their growth typically will attract all commodities … I still believe in the long term prospects.”
Source: Reuters (Reporting by Emily Chow, Editing by Louise Heavens)