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international energy agency, "Natural Gas Market Review 2007: Security in a Globalising Market to 2015"

Over recent decades, natural gas has been an important element of secure, affordable, and environmentally responsible energy supply. But as production from IEA member countries declines, supplies will have to come from sources in more distant regions. What aspects of OECD gas markets need to be improved to deliver greater security and efficiency? What are the risks of increasing reliance on imports from Russia and the Middle East? Are strategic stocks of natural gas - similar to emergency oil stocks - a viable safety net to a supply disruption? Will there be enough investment in pipeline gas or will more need to be spent on LNG? What are the impacts of gas security on oil markets and power generation security? What do changes in the LNG industry mean for traditional contract terms? The Natural Gas Market Review 2007 , the second issue in a new IEA publications series, addresses key questions in this dynamic market. It offers a global appraisal of current trends in the light of the most recent historical data, including supply and demand projections to 2015. Table of Content : Foreword Acknowledgements Key Messages Executive Summary Point of Departure Recent Events -North American Fundamentals -Japan -Korea -Recent Developments in Europe -United Kingdom Supply Developments -Gazprom Algeria MOU -Indonesia -Major Project Decisions in 2006 -Russia/Belarus Gas and Oil Negotiations Investment -General Cost Inflation -Upstream -Investment to 2015 -Shipping -Transmission Lines -Downstream -Storage Regional Demand and Supply Balance to 2015 -Demand -Supply -Production -Supply and Demand Summary to 2015 Gas Security -Recent Supply Disruptions in IEA Countries -Gas Storage -Strategic Gas Stocks: What Are They? -Why Do Gas Stocks Cost So Much More than Oil? -Why Are Gas Stocks Less Effective than Oil Stocks? -What Are Other Options besides Strategic Stocks? -Conclusion -Data Transparency Initiative Developments in LNG Markets -Overview -Production -Consuming Country Developments -Marketing, Contracts, and Spot Trade Evolution -Peak Demand, LNG Terminal Utilisation and Seasonal Storage Issues -Coping with Indonesian Shortfalls Gas for Power -Power Use Drives Demand Growth -Gas as the Fuel of Choice for New Power Plants, 2000-2004 -Economics of Gas-Fired Generation -Gas-Fired Generation Capacity Adds Flexibility Non-OECD Country/Region Update -Russian Federation -Islamic Republic of Iran -Middle East and North Africa (MENA) -Central Asia -People's Republic of China -India -Latin American Highlights OECD Region/Country Update -North America -Republic of Korea -Germany -United Kingdom -Netherlands -Norway -Belgium -Turkey European Regulatory Issues -Cross-border Regulatory Issues in Europe: Italian Example -Internal Regulation of Gas Markets in North West Europe Annex A: Existing Gas Security Measures in IEA Countries/Regions -France -Spain -Hungary -European Union Directive 2004/67/EC Annex B. Contractural Gas Flows Involving OECD Countries Annex C. Abbreviations Annex D. Glossary Annex E. Conversion Factors Annex F. LNG Regasification Terminals Annex G. LNG Liquifaction Plants

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