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The Center on Global Energy Policy (CGEP) at Columbia University SIPA congratulates Paul Dabbar on his confirmation as Deputy Secretary of the United States Department of Commerce. During...
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China’s dependence on the energy supplies that move through the Strait of Hormuz makes it especially vulnerable to any possible closure of the waterway by Iran in retaliation for attacks by Israel and the United States.
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Just two days after President Trump deployed America’s military to attack Iranian nuclear development sites, a shaky ceasefire between Israel and Iran brokered by President Trump emerged. So...
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This year, the Third Annual Energy Opportunity Lab (EOL) Forum will take place July 7th and 8th in Washington, DC, offering a chance for the Washington policymaking community...
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February 1, 2024
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Following the gas supply shock of 2022, natural gas markets moved towards a gradual rebalancing in 2023 thanks to timely policy action, effectively working market forces and favorable weather conditions. Gas prices are significantly down compared to their 2022 highs – although they remained well above their previous averages in Asia and Europe. Hub liquidity improved across all key markets amidst higher trading activity.
Despite this gradual rebalancing, the market remained fundamentally tight as the increase in global LNG production was not sufficient to offset the continued decline in Russian piped gas deliveries to Europe. LNG production growth fell short of previous expectations due to a combination of project delays and feed gas supply issues. Prices continued to display elevated volatility through 2023, reflecting supply uncertainty. Natural gas markets are expected to return to growth in 2024, although the expansion of gas use will be capped in the import markets by the limited increase in global LNG supply. Demand growth is expected to be concentrated in the fast-growing markets of the Asia Pacific and the gas-rich countries of Africa and the Middle East. The increase in gas demand will be supported by industry, as well as the residential and commercial sectors – assuming a return to average weather conditions after a mild winter in 2023. Downside risks to global LNG supply remain, including due to rising tensions along key shipping routes.
The Q1 2024 edition of the International Energy Agency’s (IEA) Gas Market Report provides an in-depth review of market developments in 2023 and a short-term outlook for 2024. As part of the IEA’s Low-Emission Gases Work Programme, the Report includes a section on short-term developments related to biomethane, low-emission hydrogen, and e-methane. Recognizing the importance of international cooperation to reduce greenhouse gas (GHG) emissions along gas supply chains, the Report features an overview of the initiatives, policies, and regulations enacted by the largest natural gas and LNG producers and consumers in this sphere.
Join the Center on Global Energy Policy at Columbia University’s School of International and Public Affairs for a discussion on the main findings of the latest quarterly Gas Market Report by the IEA.
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This webinar will be hosted via Zoom. Advance registration is required. Upon registration, you will receive a confirmation email with access details. The event will be recorded and the video recording will be added to our website following the event.
This event is open to the press, and registration is required to attend. For media inquiries or requests for interviews, please contact CGEP Communications ([email protected]).
For more information about the event, please contact [email protected].
As the Israel-Iran conflict continues to unfold, it remains unclear whether a ceasefire will hold or fighting will resume. This uncertainty carries significant implications for energy markets in the Middle East and around the world.
On the night of June 12, the Israeli military conducted widespread strikes on sites in Iran that targeted the country’s nuclear program and its senior military leadership.
This year, the Third Annual Energy Opportunity Lab (EOL) Forum will take place July 7th and 8th in Washington, DC, offering a chance for the Washington policymaking community...
On May 23, President Donald Trump signed four executive orders that aim to reform the United States Nuclear Regulatory Commission, streamline National Laboratory processes for reactor testing, advance...
China’s dependence on the energy supplies that move through the Strait of Hormuz makes it especially vulnerable to any possible closure of the waterway by Iran in retaliation for attacks by Israel and the United States.
On June 24, Iran, Israel, and the United States agreed to a cease-fire, putting a halt to nearly two weeks of war.
The conflict between Iran, Israel, and now the United States has yet to disrupt energy supplies to global markets. However, the US decision to attack Iran's nuclear program...
