With producers sitting on 200 years of gas reserves, it is the buyers who should have the upper hand in price negotiations with the sellers, International Energy Agency gas, coal and power division head Laszlo Varro said Tuesday. The global gas market has been distorted in the past few years by Japan’s need to run all its gas-fired plants at maximum to keep the lights on, he said. That has kept spot LNG prices high, with consequences for other markets that must compete with Asia. But in normal circumstances, gas has competition in most applications. Article continues below… International Gas Report International Gas Report is a biweekly report that intelligently analyzes what is happening in the natural gas industry, improving your vision and sharpening your competitive edge. Through its unrivalled network of global correspondents, it covers the whole gas chain, from the well-head to the burner tip, in Asia, […]