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IEA 2013 Medium Term Gas Market Report

Friday, June 28, 2013 - 10:30am - 12:00pm
Columbia University Morningside Campus International Affairs Building, Room 1512
Please join the Center on Global Energy Policy for a presentation by Laszlo Varro, Head of the Gas, Coal and Power Division at the International Energy Agency, of the IEA's 2013 Medium Term Gas Market Report. A summary of the report is below. A discussion moderated by Center Director Jason Bordoff will follow the presentation. Registration is required. This event is open to press.

For more information contact: energypolicy@columbia.edu

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2013 Medium Term Gas Market Report Summary

Natural gas takes a breath as it turns into its Golden Age: its growth measurably slows down although to a pace that still comfortably exceeds the growth of either oil or total energy use. The further growth of gas is constrained by continuing weakness in Europe, a resilience of coal in North America as well as persistent bottlenecks and disruptions in the LNG value chain that in 2012 caused an exceptional global decline of LNG supply. The IEA new Medium Term Gas Market report provides a detailed analysis of demand, upstream investment and trade developments till 2018 that will shape the gas industry and the role of gas in the global energy system. Its special sections investigate the economic viability of gas-fired power generation in Europe, the prospects for an LNG trading hub in Asia as well as the potentially transformational role of natural gas in the transport sector. Amid a continuous regional divergence between North American plenty, European weakness and Asian thirst for LNG, the 2013 Medium Term Gas Market Report will investigate the key questions that the gas industry faces:
  • With continuous robust production growth what would be the market and energy security implications of a policy decision turning the United States into a major LNG exporter?
  • Are the environmental benefits of shale gas already harvested as US coal makes its resurgence on the back of rising gas prices?
  • With continuing disappointments outside North America, is shale gas as worldwide as the Baseball World Series?
  • How can supplies for a growing role of gas in China be secured given that every percent of coal replaced by gas there would need Indonesias LNG exports?
  • Can traditional LNG exporters keep up with rampant domestic demand growth?
  • Will we ever hear a piece of good news on the costs and timing of LNG investment?
  • Can Russian gas find its manifest destiny in Asia from between weak EU demand and resurgent independent production in Russia?