... situation with wind energy is sorted out, as wind forecasts for the North Sea in October are largely positive. French nuclear power plants returning to operation and the reinstallation of coal-fired power plants will also help alleviate the shortage in energy supply. Nonetheless, natural gas, the main “transition fuel” on the path to a low-carbon economy, will remain at the core of debates. Europe will still compete with Asia for the LNG shipments remaining on the market, although it is unlikely to be willing and able to pay more than its competitors in Asia. There are few factors that could improve the situation in Europe, which will fuel greater interest in Nord Stream 2. The ardor ...
... will increase by 250 bcm in essence flooding the market and leading to old contracts to be renegotiated more robustly. Lastly, Europe’s notorious Third Energy Package is set to split gas transmission and storage from commercial activities. This will create a single trading hub ... ... posts stress there are serious problems for certain suppliers in financially breaking-even with such setup.
Hot Subzero LNG
Over the last 10 years LNG-liquefaction capacities increased by 2.5 times around the world to 360 bcm. Major commissioning ...
... being the main consumer. Further, by 2020-2022 the figure should be around 14-15%. Gas wise, it is amazing that Russia, the energy superpower, sells no pipeline gas to Asia, and only marginally sells LNG from 2009. By 2020-2022 Russia ambitiously aims to reverse this trend by supplying 16-17% of Asia’s gas – with ... ... to 19-20% by 2030. In all, this shows a positive trend as Russia must diversify its eggs among more than one basket. Its main European market accounts for 90% of its export – which is a serious security issue.
ES-2030 is quite versatile with internal ...
... UK's urgency to form a hub market has led to issues for Russia, as its NBP hub (National Balancing Point Hub) influences European prices heavily against the more expensive pipelines. Althought, interestingly, UK's rush has recently backfired as it found it difficult to buy LNG due to prices being 2x higher in Asia, thus making UK an undesirable location for export of liquified gas for nations like ... ... appealing (See: TheTelegraph). To add more misery, amazingly excessive instability in Iraq has not prevented it to expand its energy sector, as it has just issued a new plan to invest $130 billion over 5 years in developing its oil and gas fields (See: ...
... Pacific coast to export shale gas to Japan – where current gas prices stand at around $600 for 1000 cubic meters – that is much more than $400 paid by Europe ($500 paid by Ukraine). Further, in 2016 US should begin exporting shale gas to Europe. Traditional energy suppliers will need to keep a close eye on these developments and they may well be forced to soon drop prices for natural gas to make shale LNG imports less appealing – all will depend on the final price which may well be very low as US shale is incredibly cheap (at least aside from subsidies and other hidden numbers). It is too late to debate whether more actions was needed earlier,...
... some may have felt, but in today’s world things change quickly making one ponder – what must be done to stop any changes, how to adapt to them if they occur and what if sceptics are right?
«Oil and Gas Dialogue: Russian Gas in the European Market» Joint International Forum held at IMEMO RAN conference hall on 7th December 2012; moderated by Ivanova N. I., RAN Academic and Associate Director of IMEMO RAN, and Eric Dam, General Director of Energy Delta Institute.
Optimism Remains Thin in the Air:
As the world continues to scuffle against the most severe economic crisis, optimism remains thin in the air, conceivably as uncertainty is easier to sell. The IMEMO RAN forum was no different,...