Naural Gas Market Review 2008: 2008: Optimising Investments and Ensuring Security in a High-Priced Environment (ENERGIE ENERGIE NUCLÉAIRE)

Natural 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. This comprehensive review takes an unprecedented look at developments in natural gas to 2010, analyzing not only the three IEA regions (Asia Pacific, North America and Europe) but also broader global trends, such as the interaction of pipeline gas with LNG which binds the regions together. FOREWORD ACKNOWLEDGEMENTS TABLE OF CONTENTS KEY MESSAGES EXECUTIVE SUMMARY RECENT EVENTS What’s driving prices? Is gas globalising and what do we mean by this? Major investment project decisions, commitments and approvals Trading developments in Western Europe REGIONAL DEMAND AND SUPPLY BALANCE TO 2015 INVESTMENT IN NEW SUPPLY PROJECTS Pipeline investment in North America New transmission pipeline projects in Europe and Central Asia Strategies of gas producing countries, national oil companies and international oil companies GAS FOR POWER Evolution of gas-fi red power in OECD countries Impact of higher gas prices Outlook for new projects LIQUEFIED NATURAL GAS Recent developments in LNG markets LNG production: delays and cost increases Importing country developments Exporting country developments Changing trends in LNG projects and finance OECD COUNTRIES AND REGIONS Japan North America European Union Germany Italy NON-OECD COUNTRIES AND PRODUCING REGIONS Russia Ukraine Caspian region Middle East and North Africa China India Southeast Asia Latin/South America West Africa GAS SECURITY Member country provisions Gas stocks ADVANCED TECHNOLOGIES TO DELIVER GAS TO MARKETS The potential of unconventional gas Improving gas transport Better access to gas reserves Challenges of frontier gas resources ANNEX A: DEVELOPMENTS IN LNG RECEIVING TERMINALS ANNEX B: LNG LIQUEFACTION PLANTS ANNEX C: INVESTMENT AND FINANCE FOR RECENT LNG PROJECTS ANNEX D: ABBREVIATIONS ANNEX E: GLOSSARY ANNEX F: CONVERSION FACTORS The Natural Gas Market Review 2008 addresses the major developments in the world gas market, assessing investment in natural gas projects (LNG, pipelines, upstream), escalating costs, the activities of international oil and gas companies, and gas demand in the power sector. In addition, the publication includes data and forecasts on OECD and non-OECD regions to 2015 and in-depth reviews of five OECD countries and regions including the European Union. It also provides analysis of 34 non-OECD countries in South America, the Middle East, Africa, and Asia, including a detailed assessment of the ou