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Europe's position in the global LNG supply picture European Gas Conference gathers LNG experts in Vienna
According to the chairman of the LNG Focus Day, Independent Consultant David Ledesma, LNG imports into Europe represent an important source of flexible gas, giving gas supply diversity from Europe's traditional pipeline gas suppliers.'' He says: "LNG gives flexibility of supply and enables buyers and traders to arbitrage cargoes between different regions globally. Asia, as a firm buyer of LNG will usually be able to outbid Europe for short-term cargoes, thus reducing LNG's role as a secure gas supply source in the hub based markets of North-West Europe.''
Too much LNG or not enough?
A question that often comes up in industry discussions is whether there is too much LNG or not enough? According to Ledesma the LNG market will be balanced, "what changes is the amount of available LNG that is being marketed at any one time''. He explains: "due to the low number of new LNG projects being sanctioned during the period 2008-2010, and delays in the construction of new LNG projects (especially in Australia) new LNG supply will be limited over the coming years and this will constrain the volume of un-contracted LNG available for the flexible markets of north-west Europe. If new projects are sanctioned over the coming years, this position should ease in 2018.''
LNG a 'nice to have'
According to Mr Broggi the stakeholders of each LNG project are working hard to make FID possible by trying to convince future buyers to commit to take and pay the future production at prices sufficient to sustain the increasing costs of field development, liquefaction plants and new LNG tankers construction. He says: "Asian buyers will decide which projects they favour and European buyers will swallow the remaining quantities, if any. Remember that in many countries, LNG is just a 'nice to have', in competition to pipeline imports. Thus the difficult question of price for equilibrium.''
LNG Focus day discussion theme highlights:
- Strategy, Technology and Commercial Opportunity: LNG as the global enabler for the natural gas
- LNG in a carbon-constrained world - what will global movements look like, how can LNG be an enabler and what is the European picture?
- The role of Russia in the European and global LNG equation - piped and liquefied gas and how the two may successfully co-exist
- Regional gas prices - What is the role of LNG to mitigate these?
- What role will LNG play in meeting global gas demand and what does this mean for Europe?
More confirmed panelists and speakers:
- Jean Abiteboul, President, Cheniere Marketing & International
- Leslie Palti-Guzman, Analyst, Eurasia Group
- Ruud Weijermars, Research Associate BEG/AGL, UT Texas & Gas Research Delft Unconventional Gas Program, Delft University of Technology
- Graham Hartnell, Manager LNG & Gas Consulting, Poten & Partners
Event dates and location:
Day 1: 29 January 2013: LNG Focus Day
Day 2-3: 30-31 January 2013: Conference days
Day 4: 1 February 2013: Post-conference master class
Location: Vienna, Austria
Event website: www.europeangas-conference.com/bro
For more information, interviews and media accreditation:
Communications manager: Annemarie Roodbol
Tel. +27 21 700 3558
Fax. +27 21 700 3501
Mobile: +27 82 562 7844
Keywords:European Gas Conference, Vienna, Austria, LNG, oil & gas industry, Independent Consultant David Ledesma, Guy Broggi, a Senior Advisor in TOTAL SA?s LNG Division
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