Gas markets in context of energy security

In this interview given to the Télévision Algérienne, Dr. Carole Nakhle, CEO of Crystol Energy, explores the dynamics of global gas markets.

Dr Carole Nakhle explores gas market dynamics in this interview with Télévision Algérienne

Key takeaways:

– Gas markets have come a long way since the 1960s, with Liquified Natural Gas (LNG) increasingly connecting regional markets, though gas trade remains largely a regional affair .

– Absent LNG, the European energy crisis would have been much worse given the lack of flexibility of pipeline gas trade.

– Even with the growth of renewable energy sources, natural gas is still needed as a backup fuel to accommodate for the increase in global energy demand as this would help balance the intermittency of renewables.

– One of the biggest beneficiaries of the 2022 gas crisis is the United States which expanded its presence in the European gas market largely replacing Russian pipeline gas.

– This year, a mild winter and higher than average gas storage levels have largely played a role in taming gas prices in Europe and around the world.

– Limited growth in gas production and a rapidly growing domestic market will curtail Algeria’s ability to ramp up its exports.

– Energy security is traditionally viewed from the consumer’s point of view. However, energy security can also be viewed from the supplier’s perspective, whereby the core focus is to ensure that there will be a market for their commodity in the longer term. Irrespective, the most important approach to energy security is diversity and diversity alone.

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