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European Union, LNG and Storage Strategy

Energy Markets Global presenting ‘Follow up study to the LNG and storage strategy’ adopted by the European Commission on 27 September 2017.

A consortium of Energy Markets Global, Tractabel and REKK was commissioned in December 2016 to carry out a follow up study to the LNG and storage strategy adopted by the European Commission in February 2016. For this project, EMG made use of our industry expertise and international range to:

1) Construct a database of every LNG liquefaction project worldwide, making this the most up to date and accurate picture of the LNG supply scene in the world, which has informed views on future LNG supplies availability;

2) Conducted interviews with a range of LNG industry participants across the world, including Europe, South Asia, Singapore;

3) Prepared case studies of trading in other relevant industries, so as to inform the discussion about LNG;

4) Analysed the market, commercial and legal issues around the LNG business, so as to draw conclusions on how global liquidity, transparency and flexibility can be further promoted into LNG.

EMG and partners were also responsible for analysing gas quality issues. Under the project, infrastructure modelling under security of supply conditions, rules on access, capacity allocation and other regulatory aspects on infrastructure. The team was also tasked to identify potential regional cooperation mechanisms related to access to storage capacity on a regional level, and the circle of countries where this cooperation could most realistically take place in the most cost-efficient way.

EMG was also tasked to Identify and assess the key issues regarding the liquidity and transparency of the global LNG market and the current level of development, including parallels and differences when it comes to oil markets.

It also Identified and described possible measures and initiatives (e.g. structured information exchange on LNG, etc) the EU can take as part of its energy dialogue with consumer, existing and potential supplier countries, international organizations and multilateral fora (such as the IEA, G7, G20, etc) to promote liquid and transparent global LNG markets.

EMG and its partner REKK also specified the direction for actions that could be taken in order to address the barriers identified under the above tasks.