To maintain ‘downward’ pressure on spot prices Buyers to seek concessions in new contract talks IEA points to ‘sensitive’ global LNG balance London — Global gas markets are expected to remain amply supplied until the mid-2020s under the International Energy Agency’s central Stated Policies Scenario (STEPS), which is set to maintain downward pressure on spot prices, the agency said in its latest World Energy Outlook. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now In the outlook published Oct. 13, the agency said it expected global gas buyers to look for “significant concessions” on pricing and volumes in new contracts as legacy contracts expire. Buyers that source gas under long-term, oil-indexed contracts have not been able to make the most of low spot prices in the recent past, it said. “Around half of all gas traded over long distances remains priced in relation […]