Security Of Gas Supply In Open Markets: Lng And Power At A Turning Point

This study Security of Gas Supply in Open Markets: LNG and Power at a Turning Point is the successor of The IEA Natural Gas Security Study published in 1995. Since the 1995 publication, the gas industry in IEA countries has seen many impressive developments: i) progress in the opening to competition of gas and electricity markets, ii) the tremendous increase of gas-fired power generation worldwide as a new driver of gas demand, and iii) cost reductions in the LNG chain allowing more flexible LNG trade.While proven worldwide gas reserves have increased faster than gas demand, OECD countries increasingly need to import gas, as the discovery of additional gas reserves in OECD countries has not kept pace with the depletion of gas reserves and the increase in gas demand. This growing import dependence calls for a greater awareness of gas policies in supplier countries and along ever longer pipelines. Given these new dynamics, it is time for a new look at the issue of gas security.