Energy Talks: The Future of the European Gas Market
Walter Boltz, Director of e-control and deputy chairman of the European Agency for the Cooperation of Energy Regulators, gave a lecture on the “Future of the European Gas Market” at the European Union House on the 27th of February, 2014.
This was the second talk in Webster’s “Energy Talk Series” that will continue to bring at least one internationally renowned expert to present hot energy topics. Boltz started by charting the current situation of Europe’s energy market. Gas should play a major role in the market but is losing out – especially with respect to gas power plants producing electricity - to much cheaper coal. Gas reserves will last for the next 233 years and, compared to coal, is much more environmentally friendly. An important point in the international energy world concerns U.S. unconventional gas production (shale gas), and expected soon to be followed by Australian and Chinese production. This also has an impact on international energy flows, especially LNG flows. The challenge for Europe is to supply consumers reliably with energy without endangering its environmental goals.