Register now for our next Web Seminar, with a focus on Energy in Russia with the example of analysing Gazprom and Rosneft general ecosystem. It will take place on the 27th of May (10AM London, 11AM Paris, 13AM Moscow).
Why it’s important?
Roadmap EU – Russia Energy Cooperation until 2050ec.europa.eu/energy/interna…
— RussoScopie (@RussoScopie) May 14, 2013
Energy demand in emerging economies is increasing rapidly, particularly in China and India, and, according to the IEA2, this could result in global energy demand increasing by 40% between 2009-35, It is estimated that 90% of the growth in energy demand over this period will be in the non-OECD countries and that the absolute growth in natural gas demand will be nearly equal to that of oil and coal combined, with trade in natural gas nearly doubling. Estimates indicate that global investments of some $38 trillion in energy infrastructure are required over this period.
This will have implications for both Russia and the EU. The EU will account for a shrinking share of global fossil fuel markets. Emerging economies, particularly to the east, will become more prominent in Russian exports. Domestic factors also come into play, with the contribution of oil and gas to Russia’s GDP expected to decline from 24% in 2011 to 15% in 2035. In the EU, the transition to a low-carbon energy system will limit the growth in the use of fossil fuels.
Price volatility in oil and also in gas markets has increased over the past decade. Shale gas and other unconventional oil and gas sources have become potential important new sources of supply. The greater use of liquefied natural gas (LNG) will make gas markets increasingly global with transport more independent of pipelines.
Further reading : our presentation at the Seminar “Energy & Russia” on Feb 29th 2013 (Paris).
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Read the presentation here: 20130527_GapromRosneft_Webinar.pdf