BAKU, Azerbaijan, Dec.16. Strong gas demand reduction is needed in all European countries (figures above a 30 percent reduction have been reported for industry in some countries, and 10-15 percent are common for tertiary and domestic customers), Didier Holleaux, President of Eurogas and IGU Regional Coordinator, said in his article published by the International Gas Union (IGU), Trend reports.
Within-day and day-ahead gas prices dropped below €20 ($21) per MWh, as a result of high levels of storage and warm weather in October and November, but front-month prices stayed at around or above €100 per MWh, reflecting buyer sentiment that supply will remain tight this winter.
If supply does remain tight this winter, or even desperately short for some east European countries with limited storage and supply options, countries in the west expect to be able to cope, unless the weather is unusually cold, and are now focusing their efforts on ensuring sufficient gas next spring and next winter, partly by adding an extra 10 FSRUs.
Natural gas can continue to play its significant economic and environmental role in the global energy mix for decades to come, offering clean, secure, and affordable energy for global citizens.The extent to which the industry demonstrates and effectively communicates the key role of gas in a sustainable energy future, against the backdrop of a groundswell of anxiety about climate change, environmental, economic security, and political risks will determine theextent of its continuing success.
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