While energy markets are designed to sustain periods of volatility and uncertainty, the past 24 months have sought to test their elasticity and durability. Even though markets evolve and react to bouts of uncertainty over time, the Russia-Ukraine conflict has impacted not only the European gas market, but has also caused significant upheaval in the Asian gas market. Indeed, its effects are being felt in all major import markets around the world as market players assess their portfolio volumes and contractual flexibility and prices in an effort to develop commercial and legal strategies to best confront the multiple issues arising out of the conflict.
