Single global gas price unlikely: IEA chief

Our Bureau
Comment   ·   print   ·  
Maria van der Hoeven,
Executive Director,
International Energy Agency.
— Ramesh Sharma
Maria van der Hoeven, Executive Director, International Energy Agency. — Ramesh Sharma

The development of natural gas trading hubs in Asia will be critical, but will not happen overnight, according to Maria van der Hoeven, Executive Director, International Energy Agency (IEA).

The IEA is a France-based autonomous organisation that seeks to ensure reliable, affordable and clean energy for its 28 member countries.

New LNG supplies will accelerate the movement towards a more inter-connected global market, but high costs of transportation between regions mean ‘no single global gas price’, she said.

Stating that India will be the second largest natural gas importer in the world by 2035, she said: “China, then India, drives the growing dominance of Asia in global energy demand and trade.”

Regional price gaps and concerns over competitiveness are here to stay, but there are ways to react, van der Hoeven said.

“Gas market reforms in the Asia-Pacific region and LNG exports from North America could narrow the regional price gas,” the IEA head said.

Commenting on today’s global energy scene, she said some long-held tenets of the energy sector are being re-written. “Countries are switching roles — importers are becoming exporters and exporters are among the major sources of growing demand. Besides, new supply options reshape ideas about distribution of resources,” van der Hoeven said.

(This article was published on December 3, 2013)
XThese are links to The Hindu Business Line suggested by Outbrain, which may or may not be relevant to the other content on this page. You can read Outbrain's privacy and cookie policy here.
Please Wait while comments are loading...
This article is closed for comments.
Please Email the Editor
Today's Poll
Will the land bill help in rural industrialisation?
Can't Say


Exchange Rate

Dollar Spot Forward Rate

Open-Ended Mutual Funds

MCX-SX Currency Futures

NSE Currency Futures



Recent Article in Companies

Lycos to explore Internet of Things

Lycos, formerly Ybrant Digital, will launch two Internet of Things (IoT) products in the first week of June, entering an unchartered... »

Comments to: Copyright © 2015, The Hindu Business Line.