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Friday 25 September 2015

What does the future hold for LNG as a global market?

ESCP Europe Business School and its Research Centre for Energy Management (RCEM) hosted a thought-provoking conference on the topic "LNG as a Global Market", led by top industry expert Guy Broggi, Senior Advisor at Total SA.

The event took place on 22nd September to celebrate the arrival of the business school's new MSc in Energy Management cohort. They were joined by European Government representatives, participants of the Executive Master in Energy Management, ESCP Europe alumni, and industry professionals.

UK Director Prof Simon Mercado led the opening remarks, introducing ESCP Europe as "The Only Pan European Business School", together with its programmes and innovative research centres: The Research Centre for Energy Management (RCEM), The Creativity Marketing Centre (CMC), and The Health Management Innovation Research Centre (HMI). Dr Kostas Andriosopoulos, RCEM Director, welcomed guest speaker Guy Broggi.

Guy began by describing the recent developments in the LNG landscape. He highlighted the double effect on LNG prices from crude oil prices in 2014 and the impact of oversupply. He also explored recent trends in LNG imports around the world after the Fukushima nuclear disaster.

The global LNG supply, according to Broggi, shows that Australasian countries will be targeting the North East Asian markets. While the US Gulf of Mexico seems to be a good bet for both Europe & South America, in his view, Malaysia, Chile, Colombia, UAE and Qatar are emerging as serious candidates.

"In Europe, developments of LNG have been significant. Europe and Asia will share flexible supplies for LNG," said Broggi, while "Russia has lost share of the LNG market." In the long-term (beyond 2020), Australasia & Russia seem to be robust alternatives to supply Asian buyers.

The speaker concluded that European buyers may count on 'Flex LNG' from existing hidden LNG, and from contracted LNG exports from the US and possibly Canada.

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