The Evolution of Global Gas Markets
The CSIS Energy and National Security Program hosted a discussion on the global natural gas markets. Specific topics included: the impact of shale and arctic gas on global supplies; natural gas pricing and the interaction of regional markets; and key players and the exercise of market power.
Both in the United States and internationally, natural gas is poised to play a critical role on the path to a secure, low-carbon energy future. Gas markets, however, are evolving. The development of shale gas resources in the U.S. has, over the course of just a few years, dramatically changed the outlook for lower-48 gas production, LNG imports into the U.S., and the timing of arctic gas development. The emergence of shale gas resources outside North America could also have an impact internationally. Further, the profile of gas demand may shift, subject to a range of factors such as regional differences in pricing, seasonality, and the availability of storage. And, given the potential influence of key players such as Gazprom, geopolitics will be another significant, though unclear, variable. These developments and others in global gas markets prompt important questions to bring future trends and their implications into better focus.
The Energy Information Administration (EIA) and Wood Mackenzie, separately, have recently undertaken rigorous efforts to model and analyze global gas markets.
Director for International, Economic and Greenhouse Gases Division
Energy Information Administration
Head of North American Gas Research
Senior Advisor, Energy and National Security