European demand security called into question

摘要

The global gas market has been hit by a 'triple whammy' - recession, the growth of US unconventional gas output, and a surge in LNG production. As a result of economic contraction, Europe is contractually oversupplied by a cumulative total of 70 Bcrn of natural gas in the period 2009-2011, according to Simon Blakey, Senior Director for consultancy at Cambridge Energy Research Associates. Blakey was speaking at the World Forum on Regulation in Athens October 20.