Eurasia can become single gas market
Posted: 16 November 2003
Building government and investor confidence is key, concludes
Conference
The countries of Eurasia have the potential to create a single
market for natural gas. This was the conclusion of a Conference
on “Eurasian Natural Gas: Opportunities and Risks” held
in Brussels on 12-13 November.
The Conference was organised by the Energy Charter Secretariat
together with the International Association of Oil and Gas Producers
(OGP) and the European Union of the Natural Gas Industry (Eurogas).
It brought together over 200 participants from governments, energy
companies, financial institutions and international organizations,
with the aim of discussing the creation of a single market for gas
trade and investments in Eurasia.
It also highlighted the obstacles that need to be overcome to make
this goal a reality. Among the keynote speakers were senior figures
from industry, the EU institutions and inter-governmental bodies.
Key issues raised during the Conference included the development
of greater gas supply security and competition across the Eurasian
continent, and the need for effective cooperation aimed at establishing
more liberalized regimes of access to national gas pipeline networks
in transition economies.
Participants in the Conference underlined the need to find solutions
to the issues raised, as part of the creation of the right long-term
climate for increased investments in gas production and transportation
in Eurasia, for the benefit of consumers, industry, and general
economic growth.
In his concluding address, Energy Charter Conference Chairman Henning
Christophersen noted that huge investments are needed if the Eurasian
continent is to maximize its potential economic advantages as a
single gas trading area, and the risks associated with these investments
therefore need to be reduced to the minimum possible. “Neither
governments nor industry have all the answers to the challenges
that exist in this area, and it is therefore vital that they join
forces in discussing them, in order to develop policy approaches
that take into account the needs and interests of both producers
and consumers”, said Christophersen. “This Conference
represented a step forward in promoting such a discussion, bringing
together as it did many of the key actors involved from across the
Eurasian area”.
Conference background
The Energy Charter Secretariat, located in Brussels, serves the
Energy Charter Conference, an inter-governmental organisation in
which fifty-one European and Asian states participate.
The Conference is the decision-making body for the Energy Charter
Treaty, which was signed in 1994 and entered into force in 1998.
The Treaty establishes a legal framework for cooperation between
governments, covering energy investments, trade, transit, energy
efficiency and dispute settlement procedures.
The International Association of Oil & Gas Producers (OGP)
represents the oil and gas industry before international bodies
such as the International Maritime Organization, Regional Seas Conventions
and other groups under the UN umbrella.
OGP also works with the World Bank and with the International Organization
for Standardization. At the regional level, OGP is the industry
representative to the European Union Institutions and the OSPAR
Convention for the North East Atlantic. Equally important is OGP’s
role in promulgating best practices in the areas of health, safety,
the environment and social responsibility.
OGP membership spans the globe and accounts for more than half
of the world’s oil output and about one third of global gas
production.
Eurogas (the European Union of the Natural Gas Industry) is a non-profit
international association based in Brussels. Eurogas represents
19 European countries, including associated members. For each country,
either a national federation or individual organisations jointly
represent the membership in Eurogas.
A national delegation is formed by the main gas companies and organisations
represented. Eurogas promotes gas industry co-operation and represents
the European natural gas industry in dealings with European Union,
all other relevant bodies at international level, and, last but
not least, public opinion.
Posted by Richard Price,
Editor Pipeline Magazine
Information supplied by companies
or PR agencies who are responsible for content. Send press releases
to info@pipelinedubai.com |
