May 2014 highlights

• Gas demand from the power sector will increase in GCC and North African countries during the summer, limiting gas and LNG exports
• Iran's second phase of subsidy reforms may boost gas exports from the country, but that will not be enough to meet growing domestic demand in Turkey
• The unscheduled shutdown of the Angola LNG plant will contribute towards LNG supply constraints globally
• Egypt looks set for LNG imports from September, which will add tightness in the LNG market