SANTA CRUZ, Bolivia: Top officials of major gas producing countries gathering this week in Bolivia will face a harsh reality: Expanding supplies of the fuel are giving global buyers greater sway over purchase and contract terms.
This week’s Gas Exporting Countries Forum (GECF), which aspires to be the OPEC for natural gas suppliers, is expected to draw energy ministers from Qatar, Iran, Russia and Venezuela to Santa Cruz, Bolivia as market oversupply reduces revenues.
These countries increasingly are competing with exports from and prices set in the US, which is on track to become the world’s third largest exporter of liquefied natural gas (LNG) after Qatar and Australia.
That has “buyers in a better position to make contracts with shorter terms and more customized to their demand profile, without risking money in high take-or-pay clauses,” said Mauro Chavez, a senior research analyst at consultants Wood Mackenzie.
At least 25 countries are now capable of receiving LNG supplies and new regasification plants are expected to start operating in the coming months, giving buyers greater flexibility and increasing competition for suppliers.
Even though LNG represents only about 10 percent of the world’s gas trade, new suppliers are willing to offer sweeter terms to customers, roiling traditional markets and turning up the heat on some producers trying to hold onto more rigid terms.
The US has been the most aggressive in shaking up the market, through flexible contract terms.
US suppliers such as Cheniere Energy, the largest country’s LNG exporter, are allowing customers to resell cargoes, which has created a profitable market for trading houses. A growing number of spot LNG sales and swaps is also taking place. Cheniere plans to open its fifth liquefaction plant in the coming months while seeking new buyers.
The rise of the US as a force in global LNG markets and its growing gas sales to Mexico via pipeline have contributed to greater price certainty, according to analysts. This is reflected in a long and flat North American dry gas cost curve that should limit abrupt price increases, they added.
Price indexes are becoming a factor not only in LNG contracts but also in sales via pipeline.
Pricing at the US Henry Hub fell in the last decade from a peak of around $11 per million British Thermal Units (BTUs) at the end of 2005 to a low of $1.96 in March 2016. Since then, prices have remained stable around $3 per million BTUs.
Attendees at the gas forum might work on “a methodology for determining gas prices in contracts,” which would promote more stability, Bolivian Hydrocarbons Minister Luis Sanchez said earlier this month.
In markets such as the Caribbean, some sellers also are customizing their gas supplies by linking contracts to fuel oil prices, which is also used for power generation.
“I don’t see a situation where the price of LNG would be very high. The price of LNG will be very competitive in the mid-term and in the long run,” said Edgar Almeida, professor of the Instituto de Economia UFRJ in Brazil, flagging other market entrants such as Mozambique.
The gas glut has fueled some mergers among producers, just as the terms of some of the world’s most important gas trade deals are being renegotiated ahead of their expiration dates, including some contracts between Qatar and Japan, South Korea and Taiwan.
Other traditional gas suppliers such as Russia, Norway and Algeria seem determined to maintain market share in key markets such as Europe.
In Latin America and the Caribbean, where US LNG supplies have lowered prices for importers such as Chile and Argentina, traditional suppliers Trinidad and Bolivia need to attract upstream investments, cut costs and offer consumers more pricing flexibility to remain competitive.
— REUTERS
Buyer’s market weighs on gas exporters from Qatar to Iran
Buyer’s market weighs on gas exporters from Qatar to Iran
How AI and financial literacy are redefining the Saudi workforce
- Preparing people capable of navigating money and machines with confidence
ALKHOBAR: Saudi Arabia’s workforce is entering a transformative phase where digital fluency meets financial empowerment.
As Vision 2030 drives economic diversification, experts emphasize that the Kingdom’s most valuable asset is not just technology—but people capable of navigating both money and machines with confidence.
For Shereen Tawfiq, co-founder and CEO of Balinca, financial literacy is far from a soft skill. It is a cornerstone of national growth. Her company trains individuals and organizations through gamified simulations that teach financial logic, risk assessment, and strategic decision-making—skills she calls “the true language of empowerment.”
“Our projection builds on the untapped potential of Saudi women as entrepreneurs and investors,” she said. “If even 10–15 percent of women-led SMEs evolve into growth ventures over the next five years, this could inject $50–$70 billion into GDP through new job creation, capital flows, and innovation.”
Tawfiq, one of the first Saudi women to work in banking and later an adviser to the Ministry of Economy and Planning on private sector development, helped design early frameworks for the Kingdom’s venture-capital ecosystem—a transformation she describes as “a national case study in ambition.”
“Back in 2015, I proposed a 15-year roadmap to build the PE and VC market,” she recalled. “The minister told me, ‘you’re not ambitious enough, make it happen in five.’” Within years, Saudi Arabia had a thriving investment ecosystem supporting startups and non-oil growth.
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At Balinca, Tawfiq replaces theory with immersion. Participants make business decisions in interactive simulations and immediately see their financial impact.
“Balinca teaches finance by hacking the brain, not just feeding information,” she said. “Our simulations create what we call a ‘business gut feeling’—an intuitive grasp of finance that traditional training or even AI platforms can’t replicate.”
While AI can personalize lessons, she believes behavioral learning still requires human experience.
“AI can democratize access,” she said, “but judgment, ethics, and financial reasoning still depend on people. We train learners to use AI as a co-pilot, not a crutch.”
Her work aligns with a broader national agenda. The Financial Sector Development Program and Al Tamayyuz Academy are part of Vision 2030’s effort to elevate financial acumen across industries. “In Saudi Arabia, financial literacy is a national project,” she said. “When every sector thinks like a business, the nation gains stability.”
Jonathan Holmes, managing director for Korn Ferry Middle East, sees Saudi Arabia’s digital transformation producing a new generation of leaders—agile, data-literate, and unafraid of disruption.
“What we’re seeing in the Saudi market is that AI is tied directly to the nation’s economic growth story,” Holmes told Arab News. “Unlike in many Western markets where AI is viewed as a threat, here it’s seen as a catalyst for progress.”
Holmes noted that Vision 2030 and the national AI strategy are producing “younger, more dynamic, and more tech-fluent” executives who lead with speed and adaptability. Korn Ferry’s CEO Tracker Report highlighted a notable rise in first-time CEO appointments in Saudi Arabia’s listed firms, signaling deliberate generational renewal.
Korn Ferry research identifies six traits for AI-ready leadership: sustaining vision, decisive action, scaling for impact, continuous learning, addressing fear, and pushing beyond early success.
“Leading in an AI-driven world is ultimately about leading people,” Holmes said. “The most effective leaders create clarity amid ambiguity and show that AI’s true power lies in partnership, not replacement.”
He believes Saudi Arabia’s young workforce is uniquely positioned to model that balance. “The organizations that succeed are those that anchor AI initiatives to business outcomes, invest in upskiling, and move quickly from pilots to enterprise-wide adoption,” he added.
DID YOU KNOW?
• Saudi women-led SMEs could add $50–$70 billion to GDP over five years if 10–15% evolve into growth ventures.
• AI in Saudi Arabia is seen as a catalyst for progress, unlike in many Western markets where it is often viewed as a threat.
• Saudi Arabia is adopting skills-based models, matching employees to projects rather than fixed roles, making flexibility the new currency of success.
The convergence of Tawfiq’s financial empowerment approach and Holmes’s AI leadership vision points to one central truth: the Kingdom’s greatest strategic advantage lies in human capital that can think analytically and act ethically.
“Financial literacy builds confidence and credibility,” Tawfiq said. “It transforms participants from operators into leaders.” Holmes echoes this sentiment: “Technical skills matter, but the ability to learn, unlearn, and scale impact is what defines true readiness.”
As organizations adopt skills-based models that match employees to projects rather than fixed job titles, flexibility is becoming the new currency of success. Saudi Arabia’s workforce revolution is as much cultural as it is technological, proving that progress moves fastest when inclusion and innovation advance together.
Holmes sees this as the Kingdom’s defining opportunity. “Saudi Arabia can lead global workforce transformation by showing how technology and people thrive together,” he said.
Tawfiq applies the same principle to finance. “Financial confidence grows from dialogue,” she said. “The more women talk about money, valuations, and investment, the more they’ll see themselves as decision-makers shaping the economy.”
Together, their visions outline a future where leaders are inclusive, data-literate, and AI-confident—a model that may soon define the global standard for workforce transformation under Vision 2030.
