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 eff-ective 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.
|Editore||Claeys & Casteels|
|Numero di pagine||100|
|Stato di pubblicazione||Pubblicato - 2013|
- EU policy
- Gas markets