Finance teams are at the forefront of understanding how future trends will affect their business and on advising how to adapt accordingly
—Narayanan Vaidyanathan, ACCA

The rise of the US as a gas producer and continued low prices are set to remain key considerations in the gas markets for the foreseeable future, according to a report released today by ACCA (the Association of Chartered Certified Accountants).

The report Far East to Wild West: demand and supply in the new gas landscape notes the US’ growing role, with 79% of respondents expecting the rise of the US as a gas producer to have a material impact on global gas markets. Meanwhile, even with the lower per-unit cost, 40% said that gas was a more attractive option than oil.

The report anticipates that in an evolving marketplace, professional accountants in the gas sector will have to consider multiple factors such as pricing pressure, M&A opportunities, cost management and sustainability reporting.

Narayanan Vaidyanathan, senior business analyst at ACCA says,

‘With 70% of global gas demand coming from Asia – particularly Japan, South Korea and China – the rise of the US as exporter could represent a significant shift. A climate of low prices is also likely to influence the direction of events. In some markets like LNG for example, less expensive supply from the US may support a degree of rebalancing from long-term contracts towards the spot market.

‘Finance teams are at the forefront of understanding how future trends will affect their business and on advising how to adapt accordingly. Their views are therefore important to assess the impact of change in the short and long term.’

The report Far East to Wild West: demand and supply in the new gas landscape draws upon a global survey of 413 professional accountants as well as a range of industry experts.

It is available to read here: http://www.accaglobal.com/uk/en/professional-insights/global-economics/demand_and_supply_in_the_new_gas_landscape.html

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Notes to Editors

About ACCA

ACCA (the Association of Chartered Certified Accountants) is the global body for professional accountants, offering business-relevant, first-choice qualifications to people of application, ability and ambition around the world who seek a rewarding career in accountancy, finance and management. 

ACCA supports its 198,000 members and 486,000 students in 180 countries, helping them to develop successful careers in accounting and business, with the skills required by employers. ACCA works through a network of 101 offices and centres and more than 7,291 Approved Employers worldwide, who provide high standards of employee learning and development. Through its public interest remit, ACCA promotes appropriate regulation of accounting and conducts relevant research to ensure accountancy continues to grow in reputation and influence. 

Founded in 1904, ACCA has consistently held unique core values: opportunity, diversity, innovation, integrity and accountability. It believes that accountants bring value to economies in all stages of development and seek to develop capacity in the profession and encourage the adoption of global standards. ACCA’s core values are aligned to the needs of employers in all sectors and it ensures that through its range of qualifications, it prepares accountants for business. ACCA seeks to open up the profession to people of all backgrounds and remove artificial barriers, innovating its qualifications and delivery to meet the diverse needs of trainee professionals and their employers.