This section encompasses a wide range of GVC related information, comprising:

  • "On The Road", e.g. news about speeches at conferences and symposiae, but also pro-bono activities such as lectures provided
  • "Events", e.g. landmark occurences and agreements, but also appearances at/participation in certain events
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On the Road

Vienna 20 October 2017

Wolfgang attends the prestigious ‘GAR Live Vienna Conference’ in Vienna, on 20 October 2017, hosted by VIAC (Vienna International Arbitration Center).

GAR (Global Arbitration Review) operates around the world and is the leading publisher on international arbitration proceedings and awards. The program covered a wide range of topics Read more including enforcement of awards, international investment arbitration, the effect of political change and a lively ‘Oxford style’ pro-/con debate on the subject ‘This house believes that no party-appointed arbitrator is ever impartial’.

Wolfgang participated in the panel ‘The effect of political change’ and i.a. contributed his views on the second nuclear turn-around in Germany and the excessive financial burden of the renewables policies in pursuit of the ‘Energiewende’ on the German citizens.

On the Road

Rotterdam 27 September 2017

Wolfgang moderates a panel at the ‘Platts 11th Annual European Gas Summit’ in Düsseldorf, on 27 September 2017: ‘Is natural gas an endangered species?’

Wolfgang introduced the subject by a brief presentation: "The OIES Wake-Up Call – The Future of Gas in Decarbonizing European Energy Markets: the need for a new approach”. He essentially summarized the findings of Prof. Jonathan Stern from the Oxford Institute for Energy Studies (OIES) in his paper ‘The future of gas in decarbonizing European energy markets: the need for a new approach’, by Jonathan Stern, January 2017, OIES Paper NG 116, www.oxfordenergy.org).

Wolfgang’s contribution to the panel deliberations was an upbeat gas advocacy presentation: “Last man standing: Gas to save the day on sector coupling and getting ‘green along the way”. Besides promoting a more assertive style of gas advocacy, he demonstrated the massive increase in electricity demand in an ‘all-electric’ scenario which could not possibly be generated by renewables. The resulting short-position Read more would have to be covered by gas in order to keep CO2 emissions in check. Besides covering the short position, gas was also needed to tackle the so-called ‘intermittency’ of wind and solar. Wolfgang demonstrated that in the event of ‘Kalte Dunkelflaute’ (cold, no sun, no wind) the entire solar and wind generation capacity needed back-up by gas-fired power plants, easily in the range of >70 GW. He further recalled that the power-to-gas technology was the only one capable to ‘storing’ solar and wind power surplus in large quantities and over long periods of time, hence ‘getting greener’ along the way.

On the Road

London 13-14 September 2017

Wolfgang delivers a keynote speech at the ‘5th London Gas & LNG Forum 2017’ in London, on 13 September 2017: "The Relevance of U.S. Sanctions in the context of an evolving global gas market”.

Wolfgang qualifies US sanctions unsuitable to foster US American LNG supplies to Europe. It was ‘money talking’ and not sanctions where price spreads between Henry Hub and e.g. TTF  would determine whether cargoes would be delivered to Europe. He describes the rapid emergence of a global gas market conform the findings in the IEA’s ‘WEO 2016’ and the IEA’s first ever ‘Global Gas Security Review’ (www.iea.org). Read more

He explains that, in Europe, security of supply has transformed from bi-lateral physical dependency towards a functionality of price signals. Europe had liquid traded markets and ~210 bcm/a of regas capacity 75% idle. With what the IEA calls a second gas revolution, namely the LNG revolution, there was now destination-flexible LNG available that could and would react to price signals. In the face of this, sanctions e.g. to curb the dominance of a supplier because of concerns of political blackmail were no longer justified.
On the Road

Berlin, 6-7 July 2017

Wolfgang attended the ‘C-5 Long-Term-Gas-Supply-Contracts-Europe Conference’ in Berlin, on 6-7 July 2017.

At the beginning of day 1, he conducted a special 2-hour workshop: “Natural Gas Price Formation”.

The workshop covered a wide range of topics, from price formation mechanisms over price revision towards hedging techniques. Read more

Building on the ‘IGU Wholesale Price Survey 2017 edition’ (www.igu.org), he provided an overview of the global price formation mechanisms. He also recalled once more the de-coupling of oil and gas pricing in the European markets and demonstrated that, in North-West Europe, oil indexation has essentially vanished (down from 72% in 2005 to 9% in 2016) and hub indexation prevailed (from 28% in 2005 to 91 % in 2016).

On day 2, Wolfgang participated in a panel and delivered a speech: “What is the impact of hubs on long-term gas supply contracts?’ He pointed out that also the vertical value chain was broken and that a producer Read more was confronted with a ‘make-or-buy’ decision: He could dispose of his bulk volumes at the hubs by himself (but at a cost) or he could continue to use the midstreamer as service provider (against a fee).

Event

The Hague, 29-30 June 2017

Wolfgang attends the ‘Eurogas General Assembly’ in The Hague, on 29-30 June 2017.

The General Assembly of the European Gas Industry Association Eurogas was this year hosted by Shell in The Hague. High level guest and keynote speaker was Florian Ermacora, Head of Unit, European Commission, DG ENER, Internal Energy Market, Wholesale Markets, Electricity and Gas. The agenda addressed various aspects of the role of gas in the energy transition with a strong focus Read more on the power-to-gas technology. Not least in Germany, increasing quantities of renewable electricity are ‘lost’ by curtailment since produced whilst there was no demand. As opposed to other electricity storage technologies like batteries etc., the power-to-gas technology (hydrogen and synthetic gas) enables storage of otherwise ‘lost’ renewable electricity in large quantities over long periods of time.

Event

The Hague, 22 June 2017

Wolfgang attends the presentation of the “BP Statistical Review of World Energy 2017” hosted by the CIEP in The Hague, on 22 June 2017.

The renowned “Clingendael International Energy Program” (CIEP) headed by Prof. Coby van der Linde hosted the presentation of the traditional and widely respected ‘BP Statistical Review of World Energy 2017’. The speaker Read more was Richard de Caux, Head Refining Economics of BP. He focused inter alia on the oil demand impact of e-mobility and peak demand scenarios in the context of proliferation of e-mobility and the global energy transition at large.

On the Road

Milan, 30-31 May 2017

Wolfgang speaks at the ‘3rd Annual Conference on Eurasian Natural Gas Infrastructure’ in Milan, on 30 May 2017: "Impact of the evolving global gas market on the Eurasian gas market and the implications of COP21”.

He emphasizes that, in the context of the ‘LNG revolution’, a completely new world is evolving, with Read more flexible LNG supplies without destination constraints and hence capable of responding to price signals. Conversely, the Eurasian “Henry Hub” is far advanced and capable of sending such price signals. Also, Eurasia meanwhile avails of ~220 bcm/a of regasification capacity largely idle. On COP21 he sees a role for natural gas in the fuel mix for decades to come but cautions that the gas industry must adapt, e.g. by the accommodation of hydrogen, synthetic gas and biogas in its distribution systems in order for gas to become part of a holistic energy system.

Wolfgang also chaired and moderated the first and the second session of the conference with a total of 10 speakers.