IEA’s Global Gas Security Review 2021
Published annually on the break of a new heating season, IEA’s Global Gas Security Review, provides the energy community with the latest analysis of developments in international gas markets.
This year, the publication comes at a moment of record high gas prices. In Europe, the front-month gas price at the Dutch TTF hub, has more than tripled this year to record levels, amongst others driving up power prices as the winter heating season approaches with below-average levels of gas in storage. In Asia, continued demand growth together with strong competition with Europe and Latin America is also driving up spot prices to record high levels.
These unprecedented bullish markets are not driven by single events, as seen during earlier disruptions, but are rather the result of a combination of short-term supply-demand factors which are tightening up markets. The high prices and energy switching dynamics have a profound impact on different geographies and end-use sectors.
The nature and impact of these developments will be discussed in the presentation of IEA’s latest publication. The presentation is followed by a response by professor Tatiana Mitrova, renowned expert in Russian and international energy markets.
After the presentations and comments, sufficient time will be reserved for a Q&A.