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European Gas Industry Market Assessment 2007
Key Note Publications Ltd, Aug 2007, Pages: 108
In this Market Assessment report, the report analyses the EU downstream natural gas industry in terms of its basic activities — gas transportation, transmission, distribution and supply — and gives an account of the main companies active in the field, issues that have to be addressed and future challenges for the EU gas market.
The EU internal gas market is developing a response to EU legislation that has to be transposed into the legislation of each member state. Development of the market is a two-stage process; large users should have had a choice of supplier by July 2004 and all users, including households, were to have had a choice of supplier by July 2007. Progress towards this aim has been uneven, partly due to the EU being expanded by ten new members in 2004 and two in 2007, bringing the total number to 27 member states.
Despite some headway, considerable work has yet to be done in order to achieve a completely open market. Some companies have not yet fully separated their transmission, distribution and supply activities in order for a level playing field to exist for competitors. Further progress must also be made to enable access to national transmission networks and have national market regulators operate to the same standards. One issue in providing fair competition is the large influence exercised by a few major players in the EU gas industry; their dominant position effectively inhibits new entrants to some national markets.
The EU's gas-production industry is relatively small in relation to gas demand. Production is decreasing but demand is increasing — a fact that is focusing attention on how future demand will be met. Russia is the main supplier to the EU and will probably continue to be so for the foreseeable future, although gas will also be obtained from a range of countries in Africa and the Middle East. Major investments are being made to upgrade the EU's internal gas infrastructure and to provide more facilities for importing gas, including liquefied natural gas (LNG) by sea. The latter involves the construction of LNG terminals and regasification facilities. In the power-generation sector, the increasing use of renewable energy (mainly wind energy) and possibly nuclear power will decrease the potential demand for gas in electricity generation.
Terrorism is a widespread problem and terrorists are well aware of the strategic importance of energy supplies. It is possible that EU gas supplies could be seriously disrupted by attacks inside the EU or on gas-transport facilities, for example on pipelines or LNG tankers transporting gas to the EU.
Climate change is now a global problem and the EU is taking action to reduce `greenhouse gas' emissions. Gas is the preferred fossil fuel because it emits fewer carbon emissions than coal or oil for the same amount of energy produced. (This is a major feature of gas.) However, it remains a carbon-emitting source and efforts will be made to curb its use and to use carbon-neutral energy where possible. One EU initiative is the Emission Trading Scheme (ETS), in which companies have allocated carbon allowances. As a supplier of carbon-emitting fuel, it is important for the gas industry to follow trends in carbon trading.
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