www.eni.com UNECE “Energy Week” New Gas Developments and Investments November 24 th , 2010 Federico Riggio Public Affairs and Communication Department Head of International Affairs
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www.eni.com
UNECE “Energy Week”New Gas Developments and Investments
November 24th, 2010 Federico RiggioPublic Affairs and CommunicationDepartmentHead of International Affairs
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The role of natural gas in our energy future
reduction of the need toimport gas into the US freeing up a lot of supply for the rest ofthe world
due to the economiccrisis and recession
Natural gas is going to play an increasing role in our energyfuture
Collapse of global demand
Emergence of shale gas
The gas market has recently undergone some kind of revolution:
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Security of gas supply at the top of the agenda in the nearfuture
Three main reasons:
1) Low prices
2) Gas demand growth
3) Fall of investments in production and infrastructure
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Low prices (1)
Low prices coupled with economic recovery willstimulate a bounce-back in gas demand
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Gas demand growth (2)
Gas demand growth is a trend
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Fall of investments in production and infrastructure (3)
Gas projects are postponed allover the world
There is need to prepare for a tighter market and higher
prices
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Europe: a rising gas demand by 2020
Europe will need to import an extra 180 bcm a year(100 bcm increase in consumption and 80 bcm declinein domestic production) by 2020
Europe has to prepare for the next wave of rising gas demand through new interconnections among EuropeanStates, storages and diversification
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Europe: a diversification strategy
Three key targets for diversification:
1) diversification of supply sources
2) diversification of transit routes
3) LNG
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Diversification of supply sources (1)
??
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The Caspian region natural gas reserves (bcm)
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Diversification of transit routes (2)
SPAIN
PORTUGAL
FRANCE
ITALY
LIBYA
BELGIUM
LUX.
GERMANY
HOLLAND
POLAND
SLOVAKIA
HUNGARY
UKRAINE
BYELORUSSIA
LITHUANIA
LATVIA
SWEDEN FINLAND
NORWAY
GREECE
TURKEY
CYPRUS
CZECH REPUB
ROMANIA
BULGARIA
ALBANIA
MOLDOVIA
ALGERIA
TUNISIA
UK
RUSSIA
67bcm
6$bcm
8bcm
13bcm
Existing regasterminal
Expansion of existing terminal
Existing pipelines
New pipelines
Production
11bcm
9bcm
Pipeline Max. capacity(bcm)
Transgas 57
WAG/TAG 45
EuRoPol 33
Langeled 26
Franpipe 19
Norpipe 28
Transmed 33
Maghreb 12
Greenstream 8
Medgaz 8
Nord Stream 55
South Stream 31-63
Nabucco 31
Current Europe’s gas infrastructure
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South Stream project
TURKEY
GEORGIA
HUNGARY
Black sea Caspian sea
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1212
Nabucco project
Black sea
Caspian sea
Mediterranean sea
TURKEY
HUNGARY
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Liquefied Natural Gas (3)
LNG is the third pillar of Europe's diversification
strategy, and the major import channel for Asia
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What do all of these measures have in common?
Access to vast amount of capitalAccess to vast amount of capital
Long-term viewLong-term view
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Thank you
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