Natural gas market review 2006 : towards a global gas market

This publication is the first of a new series which reviews developments to 2010 in the pipeline gas and liquified natural gas (LNG) markets and the impact of rapid expansion in the LNG trade. It analyses recent developments in the three IEA regions (Asia Pacific, North America and Europe) including the effects of hurricanes in the United States, the Russia/Ukraine gas dispute and the price rises in the UK market, as well as considering broader global trends. Issues covered include: global supply and demand; gas use for power generation; investment issues; gas prices, market design and regulation; gas storage; as well as country studies for Canada, Russia, China, India, Indonesia, and Algeria. Natural gas is essential to the world economy. Gas now accounts for almost a quarter of OECD primary energy requirements and is expected to become the second most important fuel in the world in the next decade. Industrial and residential consumers increasingly rely on natural gas to keep their houses warm, their lights on and their factories running. . Meanwhile the gas industry itself has entered a new phase. Where gas used to be restricted to regional markets, it is now increasingly traded on a global scale. While gas production and transport requires long-term investment, now it is optim