Morningside, Trainees, Student, Staff, Public, Family-friendly, Faculty, Alumni, Energy, Climate, SIPA, International and Public Affairs, Panel
International Affairs Building 1501
The Golden Age of natural gas, announced by the IEA only a couple of years ago, has not materialized in Europe to date. In the electricity sector, gas increasingly finds itself squeezed between cheap coal and subsidized renewable energy sources. Domestic production of natural gas is declining more rapidly than anticipated, chiefly due to the Dutch government’s decision to curtail production at the largest natural gas field in Europe, to mitigate frequent earth tremors reported from the area. Geopolitical concerns remain widespread in Europe about the dominant role of Russia in the continent’s natural gas supply mix, and the possibility that it might gain further market share in Europe over the medium-term. Yet the times are changing. It is broadly acknowledged that we are entering a period of oversupply in the global natural gas market, predominantly fueled by a massive ramp-up of exports of liquefied natural gas from Australia and the United States.
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