24 25 26
May 2018
1 June
Panel Session

GLOBAL GAS MARKETS: ENERGY POLICY AND ENERGY SECURITY

15:00-16:15 Congress Centre, Conference Hall D4
The key factors influencing the current globalization of the gas market are increased gas supply from non-traditional sources, the growth in liquefied natural gas (LNG) trading, and the shift from long-term contracts to spot pricing. Together, these factors pose a significant threat to exports of Russian gas, in terms of both volumes and price conditions. Politically motivated institutional barriers are currently being erected in Europe, hampering the implementation of a number of important infrastructure projects aimed at diversifying gas supplies and reducing transit risks. Export gas shipments from Russia are increasing, however: growth stands at 15% since the beginning of 2017. The rise in LNG supply, including from the US, is intensifying competition on the global market, primarily in the Asia-Pacific region, where Russia has been making great efforts to diversify its exports. What should Russia’s gas export strategy be in these conditions? Will the global gas market map change in the near future? Will it be possible to expand the geographical scope of Russian gas supplies? Can solutions to the key problems regarding the construction of major gas transport infrastructure projects be identified?
Moderator:
Alexey Grivach, Deputy Director General on Gas Matters, National Energy Security Fund (NESF)
Panellists:
Seyed Mohammad Hossein Adeli, Secretary General, Gas Exporting Countries Forum (GECF)
Mario Mehren, Chief Executive Officer, Wintershall Holding GmbH
Alexey Miller, Deputy Chairman of the Board of Directors, Chairman of the Management Committee, Gazprom
Rainer Seele, Chairman of the Executive Board, Chief Executive Officer, OMV AG; President, Russian-German Chamber of Foreign Trade
Sun Xiansheng, Secretary General, International Energy Forum (IEF)

Highlights

Russia has proven to be one of the most reliable gas resources for Europe. Despite all the different views that we experience and the daily political discussions between Russia and Europe, the last winter, which was the coldest winter in Europe in 30 years, we would have never been able to manage without Russian gas.

Rainer Seele
Chairman of the Executive Board, Chief Executive Officer, OMV AG; President, Russian-German Chamber of Foreign Trade

It’s always very nice to talk about what we are against. However, that does not help us when we are industrialised countries and the winter is hard.

Mario Mehren
Chief Executive Officer, Wintershall Holding GmbH

If the demand for Russian natural gas keeps growing at the same pace as we have seen over the past 18 months, the capacity of Nord Stream 2 will hardly be enough to meet the growing demand on the European market.

Alexey Miller
Deputy Chairman of the Board of Directors, Chairman of the Management Committee, Gazprom

Long-term partnership is required for ensuring the security of supply and demand, and this is based on some sort of stability that could be provided by long-term contracts and by oil indexation.

Seyed Mohammad Hossein Adeli
Secretary General, Gas Exporting Countries Forum (GECF)

Some people in Brussels think that diversification of sources alone leads to supply security. This will not work. The important element here is a combination of reliable access to reliable resources and reliable transit logistics and not some nationalistic interests of individuals abusing gas for national politics.

Rainer Seele
Chairman of the Executive Board, Chief Executive Officer, OMV AG; President, Russian-German Chamber of Foreign Trade

The very idea of spot is an attempt to break away from the dependence on oil prices. Yet, if we look at the correlation of prices on the spot market, we can see that they ultimately take their cue from changes in oil and refined oil price quotes.

Alexey Miller
Deputy Chairman of the Board of Directors, Chairman of the Management Committee, Gazprom

When it comes to which projects in Europe or other countries are the most profitable and effective, gas mains are fundamental, running from our gas production centres across the Russian Federation. It is on this premise that we are building our gas transport strategy.

Alexey Miller
Deputy Chairman of the Board of Directors, Chairman of the Management Committee, Gazprom

The Asian gas market is currently the most dynamic and fastest-growing in the world, and the most future-orientated market as well. The Indian market should be emphasized too; however, the Chinese market is currently the top priority.

Alexey Miller
Deputy Chairman of the Board of Directors, Chairman of the Management Committee, Gazprom

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