This book explores in detail the challenges which the European gas markets currently face, and the opportunities they present. Bringing together some of the most prominent gas experts on Europe from both academia and industry, this edited volume provides a comprehensive analysis of the various economic, political and technological factors that interact in this sector. Featuring a Foreword by Maroš Šefčovič, Vice-President of the European Commission in charge of the Energy Union, contributions explore a wide range of issues, such as the role of gas in decarbonizing Europe, the outlook of Europe’s gas demand, supply and pricing, and global LNG dynamics. Country specific studies include Russia, Norway, the Netherlands, and Germany, with regional studies including North Africa and the Eastern Mediterranean. Alongside detailed analysis of this complex sector it also puts forward a set of policy recommendations for the sector’s key stakeholders. This volume will be of interest to researchers and academics, as well as practitioners and professionals within European gas markets.
The European gas industry has experienced over the last decades an extraordinary success. A strongly interconnected network of gas pipelines has been developed inside and around Europe, and the LNG trade has also expanded rapidly. However, the European gas industry is now facing a number of new challenges and opportunities, related to both its demand and supply sides. On the demand side the ambitious EU decarbonisation targets have led to an unprecedented uncertainty of the EU future gas demand. In fact, the implementation of a climate-based energy policy in Europe challenges the role of natural gas in the long-term European energy mix, also if in the mid-term natural gas could play an important and cost effective role in the transition towards a low carbon economy. On the supply side new natural gas supplies are emerging around the world, mainly because of an increase in global LNG supply and the shale gas revolution in the United States. This unprecedented shift in the supply/demand balance is creating new dynamics also in the European gas industry, regarding both the EU security of gas supply architecture and the EU gas pricing mechanism. This book provides a comprehensive analysis of all these challenges and opportunities affecting the European gas industry, with the aim to provide a clear snapshot of a market characterized by growing uncertainty and volatility.
Author: Sanjay Kumar Kar
Release Date: 2017-02-19
Genre: Business & Economics
This book shares the latest market developments and advances in natural gas demand, supply, transmission, distribution, and consumption, with a special emphasis on the Indian context. Chapters are written by researchers and industry professionals working in the field of natural gas and energy to provide deeper insights into natural gas market structure, market development, business opportunities and market growth. Topics covered include, natural gas demand-supply, exploration and production policy, downstream regulatory developments, city gas distribution, pipeline, pricing, and taxation policies impacting natural gas market developments in India. The book will be useful to researchers, professionals, and policy makers working in the area of natural gas and related fields.
A unique and thorough investigation of the shift towards Europe-wide energy regulation, markets and business strategies, and the extent to which energy systems have become more liberalised over this period. Reshaping of European Gas and Electricity Industries analyses the key issues facing the European energy industry, from a regulatory, market, and business perspective. Current challenges within the field are also reviewed, including competitive and environmental issues. Liberalization: Delivers timely insights into the changes facing the European energy industry in the face of deregulation Competition: A direct look at business and marketing strategies in response to the influx of competition from across the globe Environment: Provides powerful [insights] into the way environmentally-based legislation has now become a key driver of the energy industry in Europe
Author: A. Vavilov
Release Date: 2016-04-30
Genre: Business & Economics
This detailed case study of Gazprom explores motivation behind the company's foreign policies, it's strategies and tactics. It examines the challenges Gazprom faces in the European market and emphasizes the role of politics in Russsia's gas trade.
Author: Jean-Michel Glachant
Publisher: Edward Elgar Publishing
Release Date: 2013-01-01
Genre: Business & Economics
This highly unique book focuses on market design issues common to most EU gas markets, particularly in the context of closer integration. It explores in detail the characteristics and requirements of national gas markets in Europe, which are constructed as virtual hubs based on entry/exit schemes as a requirement of European law. The expert contributors analyse gas supply and demand patterns in the EU, showing that both have changed following the introduction of liquefied natural gas on the supply side and the growth of gas-fired power plants on the demand side. The repeated interactions between the transmission operators activity and the gas commodity markets are addressed, as is the design of commercial networks in EU markets. The contributors also question whether the relationship between commercial and physical networks, in terms of the new flexibility requirements of users, actually works. By way of conclusion, two proposals for the EU gas target model are presented, both of which tackle the fundamental issues raised in this book, as well as the organization of short-term transactions and the mechanisms for investment in vital new long-life infrastructure needed to integrate EU markets. This volume will be of great interest to practitioners, as well as academics, researchers and students in the fields of energy economics and industrial economics. Both European and non-European energy companies and regulatory authorities looking for an independent and analytical overview of European gas markets will also find this book to be a highly valuable resource.
This edited collection highlights the different meanings that have been attached to the notion of energy security and how it is taken to refer to different objects. Official policy definitions of energy security are broadly similar across countries and emphasize the reliability and affordability of access to sufficient energy resources for a community to uphold its normal economic and social functions. However, perceptions of energy security vary between states causing different actions to be taken, both in international relations and in domestic politics. Energy Security in Europe moves the policy debates on energy security beyond a consideration of its seemingly objective nature. It also provides a series of contributions that shed light on the conditions under which similar material factors are met with very different energy security policies and divergent discourses across Europe. Furthermore, it problematizes established notions prevalent in energy security studies, such as whether energy security is ‘geopolitical’, and an element of high politics, or purely ‘economic’, and should be left for the markets to regulate. This book will be of particular relevance to students and academics in the fields of energy studies and political science seeking to understand the divergence in perspectives and understandings of energy security challenges between EU member states and in multilateral relationships between the EU as a whole.
After 20 years at different positions in the gas sector, from the policy side to trading floors, the author gives an overview of the major gas issues and elaborates on the consequences of the US shale gas revolution. The first part of the book provides basic knowledge and gives needed tools to better understand this industry, that often stands, in sandwich, between upstream oil and utilities. After extensive research, publication and teaching, the author shares his insights on fundamental issues all along the gas chain and explains the price mechanisms ranging from oil-indexation to spot. The second part looks into the future of worldwide gas balance. To supply growing markets, the major resource holder, Russia, is now in direct competition with the major gas producer, the US. China has the potential not only to select the winner but also to decide the pricing principle for all Asian buyers in 2020. As China is a new and growing gas importer and has a lower price tolerance than historical Asian buyers (Japan and South Korea), it is highly possible that, against basic geography, China selects waterborne US LNG versus close Russian pipe gas, to achieve lower import price. Europe, so risk adverse that it won't be able to take any decision regarding shale gas production on this side of 2020, should see its power fading on the energy scene and would rely more on Russia. Gas geopolitics could tighten Russia stronghold on Europe, on one side, and create a flourishing North America-Asian trade... This book is accessible to ail and will particularly interest readers seeking a global gas perspective where economics and geopolitics mix. It can be read as an economic novel where billions of $ are invested to shape tomorrow energy world or as a geopolitical thriller where Russia and the US compete to impose their respective agenda, leaving China tn select the winner.
Author: Manuel Welsch
Publisher: Academic Press
Release Date: 2017-04-13
Genre: Business & Economics
Europe’s Energy Transition: Insights for Policy Making looks at the availability and cost of accessing energy and how it significantly affects economic growth and competitiveness in global markets. The results in this book, from a European Commission (EC) financed project by INSIGHT_E, provide an overview of the most recent analyses, focusing on energy markets and their implications for society. Designed to inform European policymaking, elements of this book will be integrated into upcoming EC policies, giving readers invaluable insights into the cost and availability of energy, the effect of price increases affecting vulnerable consumer groups, and current topics of interest to the EC and ongoing energy debate. INSIGHT_E provides decision-makers with unbiased policy advice and insights on the latest developments, including an assessment of their potential impact. Presents answers to strategic questions posed by the European Commission Coherently assesses the energy transition, from policies to energy supply, markets, system requirements, and consumer needs Informed the EC "Clean Energy for All Europeans" package from end of 2016, e.g., regarding aspects of energy poverty Endorsed by thought leaders from within and outside of Europe, including utilities, energy agencies, research institutes, journal editors, think tanks, and the European Commission
Author: David Ramin Jalilvand
Release Date: 2017-11-22
Genre: Political Science
The Middle East and North Africa (MENA) are in disarray, and shifts in the field of energy have the potential to drastically affect the course of political and economic developments in the region. Declining oil prices, skyrocketing domestic demand, the rise of unconventional oil and natural gas production in North America, as well as shifting patterns of global energy trade all put severe pressures on both producing and importing countries in the MENA region. Policy-makers are facing fundamental challenges in light of the duality of grand transformations in (geo)politics and energy. Changes in the field of energy require substantial political and economic reforms, affecting the very fabric of sociopolitical arrangements. At the same time, the MENA region’s geopolitical volatility makes any such reforms extremely risky. Including contributions by academics and analysts from both inside and outside the MENA region, this volume explores the changes in global and regional energy, the impact of changing international energy dynamics on politics and economies in the MENA region, and the challenges that will result. This is essential reading for researchers, postgraduates, and professionals in Middle Eastern and North African politics, global energy governance and regionalism.
Author: Agnia Grigas
Publisher: Harvard University Press
Release Date: 2017-04-24
Genre: Political Science
As the United States aggressively expands its exports of liquefied natural gas, it stands poised to become an energy superpower. This unanticipated reality is rewriting the conventional rules of intercontinental gas trade and realigning strategic relations among the United States, the European Union, Russia, China and beyond, as Agnia Grigas shows.