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Energy finance is transforming rapidly amid shifting political and economic dynamics in the U.S. and globally. As the landscape becomes increasingly complex, we will explore key legal insights,...
Commentary by Tim Boersma & Tatiana Mitrova • March 21, 2017
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In a new commentary from the Center on Global Energy Policy, authors Dr. Tim Boersma and Dr. Tatiana Mitrova examine the causes and consequences of transformational changes in global gas markets. First laying out historical gas market dynamics, the authors then explore factors that are driving new shifts away from the old model, including:
–The gradual transformation of natural gas trading from regional to international markets due to new infrastructure development, LNG technology, and new gas supplies around the world.
–The explosion of shale gas production in the United States and the substantial yet under-appreciated beginning of large-scale coal-bed methane development in Australia.
–New standards for contract duration and changing price mechanisms due to shifts away from oil indexation and toward indexations based on various pricing points in the more liquid parts of the world.
–Demand growth headwinds as a result of improved energy efficiency in buildings, industrial processes and electricity generation, ongoing electrification of final energy use, and a structural shift of economic activity from industry towards the service sector.
–Developments in Asian markets and emerging economies which lack natural gas infrastructure.
–How natural gas will compete with growing international demand for clean energy sources.
Energy abundance isn't a climate strategy—it delays clean energy progress, harms global cooperation, and repeats past policy mistakes.
President Donald Trump has made energy a clear focus for his second term in the White House. Having campaigned on an “America First” platform that highlighted domestic fossil-fuel growth, the reversal of climate policies and clean energy incentives advanced by the Biden administration, and substantial tariffs on key US trading partners, he declared an “energy emergency” on his first day in office.
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Commentary by Tim Boersma & Tatiana Mitrova • March 21, 2017