Security of supply: do the long-term incentives apply? Alan Grant, Executive Director International Association of Oil & Gas Producers.

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Presentation transcript:

Security of supply: do the long-term incentives apply? Alan Grant, Executive Director International Association of Oil & Gas Producers

OGP Members

SOS

Gas reserves and potential in Europe and accession countries (BCM) CountryReservesDiscovered potential Undiscovered potential Total Norway Netherlands Germany UK Ireland Denmark152-- Austria France8--8 Italy Total EU/EEA Hungary Poland Romania Total AC Total

Gas reserves and potential in economic reach of EU (BCM) AreaReservesDiscovered potential Undiscovered potential Total Africa Middle East FSU Caribbean Total

EU/EEA forecast gas demand

Available export volumes within EU reach

Europe: “surrounded by a sea of gas” Nigeria LNG Trinidad LNG Algerian LNG Russia Algeria Norway Libya Egypt Azerbaijan & Turkmenistan Iran Iraq

Investment drivers Economic & business environment Political environment Infrastructure availability Resource location Technology and alternative energy supplies

The role of the EU Putting energy objectives at the heart of internal policies and foreign relations

Main EU focus areas Internal stability Clear & reasonable regulatory regime Open market competition Long term vision & contracts Linking aid & free market development Effective diplomacy