Flexibility in natural gas : supply and demand
- Bib ID:
- 683641
- Format:
- Book
- Author:
- Cornot-Gandolphe, Sylvie
- Online Version:
- Table of contents
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- Description:
-
- Paris : OECD/IEA, c2002
- 273 p. : ill., map ; 23 cm.
- ISBN:
- 9264199381
- Summary:
-
"In most IEA Member countries, natural gas demand varies strongly during the year, according to temperature. Flexibility is needed to cover seasonal swings and variations in gas demand, especially for household customers. It is also needed to maintain short-term supply security in the case of a disruption of a supply source. Over the years, gas companies have devised a variety of flexibility tools, such as supply swing, storage and interruptible contracts. This enabled them to balance supply and demand by modifying volumes. Today, market liberalisation encourages the development of hubs and spot markets, where supply and demand can be balanced by the pricing mechanism. As a result, flexibility services are now offered and priced independently from the gas itself. Opportunities for arbitrage between gas and electricity have also emerged in countries where both sectors have been liberalised"-P. [4] of cover.
- Full contents:
-
- Machine derived contents note: Foreword 3
- Acknowledgements 5
- Table of contents 7
- Executive Summary 13
- Gas demand and supply do not always react to market signals
- in ways typical of other commodities 13
- How flexibility requirements are evolving to meet supply and
- demand trends in the OECD 15
- Traditional flexibility tools 18
- The role of flexibility is evolving with market liberalisation 20
- New flexibility patterns in the LNG market 22
- Recommendations 25
- Ensure the working of the new markets 25
- Ensure the provision of the flexibility needed by non-
- interruptible customers that lack fuel-switching capacity 26
- Monitor investment performance and take action, if needed 27
- 1. Introduction 29
- Why flexibility is needed 29
- Large variations in demand; a certain rigidity in supply 29
- Different flexibility requirements by sector 33
- Changes that come with market liberalisation 35
- 2. Supply and Demand Trends in OECD Regions and
- Their Impact on Flexibility 37
- Introduction 37
- OECD North America 38
- Market overview 38
- Regulatory reforms in gas and electricity 39
- Gas demand trends 41
- Gas supply trends 42
- Impact on flexibility 42
- OECD Europe 43
- Market overview 43
- Regulatory reforms in gas and electricity 44
- Gas demand trends 45
- Gas supply trends 46
- Impact on flexibility 50
- OECD Pacific 51
- Market overview 51
- Regulatory reforms in gas and electricity 51
- Gas demand trends 53
- Gas supply trends 54
- Impact on flexibility 54
- 3. Flexibility Tools in Traditional Markets 57
- Introduction 57
- Flexibility of supply 58
- Flexibility in gas production and imports 58
- Access to spare capacity at import and transportation
- facilities 63
- Storage 64
- Functions and characteristics 64
- Storage development in IEA 65
- Line-pack 68
- Storage at LNG terminals 68
- Demand side measures 69
- Interruptible contracts 69
- Fuel-switching 70
- Demand-side reaction to price signals 73
- Conclusion on the current state of flexibility 75
- 4. Market Liberalisation: A New Context for Flexibility 77
- Introduction 77
- The emergence and development of gas trading 78
- Marketplaces: new hubs 78
- Spot and futures markets 81
- Emerging trends in Continental Europe 85
- New forms of flexibility and the changing role of gas storage 88
- Unbundled services 88
- The new functions of underground gas storage 90
- Forces favouring storage use - the US and
- UK experiences 92
- Storage and liberalisation in Continental Europe 93
- Electricity-gas arbitrage at hubs 95
- 5. The role of LNG in Flexibility 99
- Introduction 99
- International LNG trade 99
- Global trends 99
- Regional trends 101
- Deregulation of Asian and European LNG markets 103
- New trading arrangements 105
- Swap agreements 105
- New contractual terms 106
- Arbitrage: The development of Transatlantic
- LNG trade 107
- Spot sales 108
- Pricing development 110
- Driving forces in the development of an LNG spot market 112
- Spare capacity at liquefaction plants 113
- Shipping issues 114
- Regasification terminals 115
- A global LNG market? 116
- IEA Countries Annexes 1 7
- Australia 121
- Austria 127
- Belgium 132
- Canada 138
- Czech Republic 146
- Denmark 150
- Finland 155
- France 159
- Germany 165
- Greece 173
- Hungary 176
- Ireland 180
- Italy 18 5
- Japan 192
- Korea 200
- Luxembourg 205
- Netherlands 208
- New Zealand 214
- Norway 218
- Portugal 222
- Spain 226
- Sweden 232
- Switzerland 234
- Turkey 237
- United Kingdom 243
- United States 252
- Glossary of Terms and Abbreviations 261
- References 269.
- Notes:
-
- "The main author of this book is Sylvie Cornot-Gandolphe. Ralph Dickel, Head of the Energy Diversification Division, directed the project and provided valuable input and advice"--P. 5.
- Includes bibliographical references (p. 269-273)
- Subject:
- Other authors/contributors:
- Copyright:
-
In Copyright
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- Publication date:
- 2002
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