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“natural Gas In 2023: Balancing Sustainability And Demand”
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Remember the beginning of 2023? Analysts are predicting an imminent recession and stocks are just around the corner…The European Union faces a potential shortfall of nearly 30 billion cubic meters of natural gas by 2023, but can close this gap and avoid the risk of a shortage. energy efficiency; renewable and usable; to install heat pumps; A new report released today shows strong efforts to promote energy savings and increase gas supply.
The report – How to avoid gas shortages in the European Union by 2023 – outlines a set of practical actions that Europe can take before this winter, building on the impressive progress made in 2022 to reduce Russian gas supplies and gas storage capacity. The report warns that 2023 could prove to be a tougher test for Europe, but global liquefied natural gas (LNG) supplies could fall further as Russian supplies rebound, particularly if Chinese demand for LNG picks up. and if unseasonably warm temperatures intensify. Durability is not guaranteed at the start of the European winter.
Executive Director Fatih Birol released the report alongside European Commission President Ursula von der Leyen at a press conference in Brussels today ahead of an extraordinary meeting of EU energy ministers on December 13 and the European Council on December 15.
“We were able to withstand Russia’s energy barrage. Reduce Russian gas demand by two-thirds before the end of the year by mobilizing up to €300 billion in investment through our REPowerEU programme. The result of all this is that we are safe this winter,” said European Commission President Ursula von der Leyen. “So we are now focusing on preparing for 2023 and next winter. For this, Europe needs to step up its efforts in many areas, from international deployment to joint procurement of gas.”
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“The European Union has made significant progress in reducing its dependence on Russian natural gas supplies, but it is not yet out of the danger zone.” Executive Director Fatih Birol said. “Many of the conditions that allowed EU countries to fill their storage spaces before this winter cannot be repeated in 2023. ‘The new analysis shows that stronger energy efficiency, renewables, heat pumps and simple energy-saving measures are essential to avoid the risk of shortages and disastrous price rises next year.'”
Gas levels in EU storage facilities are above the five-year average as European governments and businesses take action throughout 2022 in response to the energy crisis and demand damage from large price increases. At the beginning of December it will reach winter as an important buffer. consumer actions; Increasing non-Russian gas supplies and a softening climate also compensated for the drop in Russian deliveries in 2022.
Energy efficiency; Measures already taken by EU governments regarding renewable energies and heat pumps could reduce the size of the potential gas supply-demand gap by 2023. A recovery in nuclear and hydropower output from their decade-low levels in 2022 should also help to narrow it. gap. Despite all this, The EU’s potential gas supply gap could reach 27 billion cubic meters by 2023, with Russian deliveries falling to zero and China’s LNG imports recovering to 2021, the report said.
Energy efficiency; renewable heat pumps; This gap can be closed through further action on energy conservation and gas supplies, the report’s analysis says.
Infographic: Europe’s Q3 2023 Gas Market Fundamentals Finely Balanced
To drive faster improvements in energy efficiency; The report recommends expanding existing programs and increasing support measures for home renovations and the adoption of efficient appliances and lighting. It also recommends using smarter technologies and encouraging gas-to-electricity transition in industry.
To speed up approvals for renewables, the report proposes adding administrative resources and simplifying procedures. It also proposes financial support for heat pumps and changes to tax laws that penalize electricity. It also calls for better campaigns to get more consumers to reduce their energy consumption and to detail various programs from many countries that can act as best practices.
On the supply side, Europe’s options to import more natural gas are limited, but there are a handful of countries that could increase exports by capturing existing gas. The report also details opportunities to expand low-emission biogas production.
The same, These measures include price hikes; factory closing; Increasing the use of coal for power generation and intensifying international competition for LNG cargoes – these measures are supported in ways that are consistent with the EU’s climate goals.
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The report outlines key actions to close the potential supply-demand gap if Russian pipeline deliveries fall to zero, including energy efficiency and faster deployment of renewables.
This new report provides the latest analysis of the extent of the EU’s potential gas supply-demand gap by 2023 and sets out practical actions that could close that gap while avoiding excess species for European consumers and international markets. The analysis includes real-world examples of measures that can be implemented and their effects measured. The measures are in line with the EU’s climate objectives, leading to a more secure and balanced EU gas market by 2023.
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Thanks for subscribing. You can unsubscribe at any time by clicking the link at the bottom of the newsletter. Prices fell on concerns of rising demand for Henry Hub – a supply response may be needed
Thanks to a mild winter and record production; The 2023 US gas storage season has begun with a large surplus. Henry Hub gas prices fell sharply amid rising concerns about oversupply. While there are signs of a demand response from economic coal-to-gas displacement, a supply response to lower gas prices is also needed to avoid limiting storage in the summer.
We explored what is likely in supply response. Fill out the form for a free quote and read on for a brief introduction.
Will A Supply Response Help Avoid Us Gas Storage Containment This Summer?
North America has an abundant and low-cost gas resource base. It has a spiraling supply curve: higher gas prices can bring more volume online, promoting more development and exploration in the long run. However, during periods of low short-term gas prices; The higher level of core acreage allows for a faster, lower cost supply base.
In addition to lower gas prices, correlated gas supply will contribute to the current oversupply situation and reduce demand in the non-correlated supply market in the near term. New gas pipeline extraction projects, particularly in the Permian Basin, will provide relative supply growth, but more will be needed in the future to avoid carry restrictions.
Increasing demand for liquefied natural gas (LNG) will increase North American gas demand in the future. However, not until the second wave of US LNG projects begins. The threat of lower gas prices may continue due to limited storage capacity. ဟန်ချက်ညီသော စျေးကွက်ကို ထိန်းသိမ်းထားရန် လုံလောက်သော ရောင်းလိုအားနှင့် ဝယ်လိုအား တုံ့ပြန်မှု လိုအပ်ပါသည်။
ထုတ်လုပ်သူများသည် ကျွန်ုပ်တို့၏အခြေခံဖြစ်ရပ်မှန်အမြင်တွင် ထည့်သွင်းထားသော Haynesville နှင့် Northeast ရှိ လှုပ်ရှားမှုအဆင့်များကို လျှော့ချလိုက်ပြီဖြစ်သည်။ သို့သော်လည်း တူးဖော်ခြင်းနှင့် ပြီးစီးမှုကြားတွင် အချိန်နောက်ကျခြင်းကြောင့် တူးဖော်သည့်ရေတွင်းအသစ်များမှ ရေတိုအတွင်း ထုထည်လျော့သွားမည်မဟုတ်ပါ။
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