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News: On the Road

Amsterdam, 14-17 May 2018

Wolfgang chairs two panels at the ‘FLAME Gas Conference’ in Amsterdam, 15 and 16 May 2018:

First Panel (15 May): "Pipelines & Interconnectors: Europe cornered by supply?

Second Panel (16 May): "The Future of Midstream Gas & Utilities

The panelists of the first panel (Pipelines & Interconnectors) were Read more Reinhard Ontyd, Chief Commercial Officer, Nord Stream 2, Miroslav Bodnár, Member of the Board of Directors & Director of Strategy, EUStream, Andreas Rau, CEO, NET4GAS, Ana Stanič, Founder, E&A Law and Wouter Koopman, Shell.

Reinhard Ontyd joined the panel after having delivered a keynote speech on the status of the Nordstream 2 pipeline project. The lively but educated discussion was strongly focussed on the significantly rising European import demand and the shared concern that the emotional politicization around certain pipeline projects might in the long run endanger security of supply or at least lead to significantly elevated European price levels if Europe were to compete with Asia for LNG on a more permanent (as opposed to sporadic) basis. Wolfgang provided optical support by a number of illustrative slides.

The panelists of the second panel (The Future of Midstream Gas & Utilities) were Read more Ignacio de Aguirre, Head of Strategy, Gas Natural, Dieter Helm, Fellow, New College Oxford and Pierre Vergerio, Executive Vice President, Energy Management & Optimization, Edison.

A considerable part of the discussions was the insight that the German ‘Energiewende’ concept was, in terms of battling climate change by CO2 reductions, rather a showcase which mistakes to avoid and not a role model. The respective disposition of midstreamers and utilities e.g. on gas infrastructure investments was debated in depth. Wolfgang supported the discussions by exemplary slides on the status of the German ‘Energiewende’.
News: On the Road

Athens 3/4 May 2018

Wolfgang delivers a keynote speech at the ‘3rd International Conference of the Hellenic Association for Energy Economics’ in Athens, on 4 May 2018: "Gas Supply & Demand Dynamics: Pipelines and LNG” and moderates the respective panel with the same title.

Whilst the projected substantial growth in natural gas demand occurs elsewhere in the world, European gas demand is frequently underestimated (and the remaining level of indigenous production overestimated). E.g. the IEA, in its WEO 2017, Read more projects European demand essentially flat but sees a rising total import need of some 390 bcm/a by 2040. Hence, it appears advisable to encourage all manner of supply import aspirations, by both pipeline gas and LNG. Wolfgang points out once more the availability of destination flexible LNG responding to price signals operates like a ‘cap’ on the maximum achievable price for pipeline suppliers. At the same time, the volume pressure of abundant pipeline supplies keeps traded prices low and LNG (on a more permanent basis) mostly out.

Event

Florence, 9 April 2018

Wolfgang participates in a panel at the Policy Workshop: ‘The Renewable Gas Complex and the European Path to Decarbonization’ organized by the ‘European University Institute’ and the ‘Florence School of Regulation’ in Florence, on 9 April 2018.

The Policy Workshop covered a wide spectrum of aspects pertaining to the ‘renewable gas’ complex. I.a. Read more the biogas, biomethane and syngas value chain were presented and discussed, moreover the hydrogen, ‘green hydrogen’ and power-to-gas value chain. TSO and DSO representatives contributed by explaining the huge possibilities offered by the existing gas infrastructure, not least the ability to store, in large quantities and over extended periods of time, renewable power which would otherwise be ‘lost’ since curtailed at times of low demand.

News: On the Road

Nicosia 27/28 March 2018

Wolfgang delivers a keynote speech at the ‘9th Mediterranian Oil & Gas Forum 2018’ in Nicosia, on 27 March 2018: "The blessings of natural gas for Cyprus

With an additional promising natural gas discovery, Cyprus has moved one step closer to develop its resource for own use and export. Emphasis was therefore put on the positive effects for the domestic Cypriot market and its economy at large, ranging from significant CO2 reductions in the power generation sector Read more towards substantial savings to be expected in conjunction with the current import of oil products. The Cypriot ‘4th National Energy Efficiency Plan for Cyprus 2017’ was discussed and triggered stimulating exchanges.

Event

Brussels, 20 March 2018

Wolfgang attends the Eurogas Annual Conference: ‘Making mobility fit for the future – From roads to waterways’ in Brussels, on 20 March 2018.

The European Gas Industry Association Eurogas (www.eurogas.org) hosted its traditional Annual Conference. In an effort to foster stakeholder dialogue beyond the gas industry, the event was organized in cooperation with ‘NGVA’ (Natural & bio Gas Vehicle Association). Accordingly, the theme of the Conference was strongly focused on the deployment of natural gas in the transport sector. Read more

The contributions ranged from the use of ‘CNG’ (compressed natural gas) in passenger cars and LNG  in heavy duty trucking as well as maritime transportation. The huge potential of natural gas to contribute to battling climate change was emphasized and the limits of electrification were, at times controversially, discussed. Importantly, the participation of stakeholders from outside the gas industry, notably including Eurelectric, but also participants from the car industry such as Bosch and Volvo and various NGOs stimulated fruitful dialogue. A further laudable step away from having ‘gas people talk to gas people’ only.
Publication

’Implications of a global gas market for traditional gas economical paradigms’, in February 2018

The article is the – updated and expanded – English version of the ‘Gastkommentar’ (guest commentary) in GVS’s  monthly ‘Gasmarkt-Telegramm’ (www.gvs-erdgas.de) published in January 2018. I.a., Wolfgang additionally documents the destinations of US American LNG cargoes since February 2017, underpinning that deliveries would go where the highest net-backs could be achieved (‘money talks…’). Moreover, Read more Wolfgang demonstrates by means of the January 2018 price spreads between East Asian M+1 vs. TTF that a permanent (as opposed to an occasional, e.g. in case of market tightness) reliance on LNG supplies would have required a TTF price of 31.60 €/MWh instead of the settled January price of 20.29 €/MWh, i.e. more than 50% higher, to compete for LNG. The pipeline gas volume pressure on the European traded markets ensures low prices to the benefit of European end consumers, whilst the marginal quantity of LNG supply sets the maximum price achievable. This ‘end-user welfare benefit’ has convincingly been demonstrated by the renowned ewi Institut in its report ‘Impacts of Nord Stream 2 on the EU Natural Gas Market’ (ewi Energy Research & Scenarios gGmbH; www.ewi.research-scenarios.de).

Event

Essen, 07 February 2018

Wolfgang attends the ‘E-world energy & water 2018‘ in Essen, on 07 February 2018.

The traditional E-world energy & water exhibition & conference has evolved into a major display of technological developments around energy transition. Wolfgang participated in a symposium organized by Innogy on the subject: ‘Sektorenkopplung ohne Gas!?!Read more

The discussion addressed the ‘all-electric’ aspirations of certain policy makers and concluded that the increase in electricity demand and peak supply requirements could not be solved by further ramping up renewable power generation, namely wind and solar, alone. Wind and solar were at times of ‘Kalte Dunkelflaute’ entirely not available and at times rendered massive solar and wind power surpluses absent demand which had to be curtailed against multi-million Euros of compensation. The P2G technology was the only technology capable of storing large quantities of renewable power over long periods of time in the form of hydrogen or synthetic gas in the gas grids and gas storages.