Following the abandonment of the South Stream project and the huge implications arising thereof for European energy security and in order to assess the situation from a regional perspective, the Institute of Energy for S.E. Europe (ΙΕΝΕ) has taken the initiative to convene on an ad hoc basis, a one day conference in Vienna, on March 12, 2015 to discuss the energy security issues related to European gas supplyFollowing the abandonment of the South Stream project and the huge implications arising thereof for European energy security and in order to assess the situation from a regional perspective, the Institute of Energy for S.E. Europe (ΙΕΝΕ) has taken the initiative to convene on an ad hoc basis, a one day conference in Vienna, on March 12, 2015 to discuss the energy security issues related to European gas supply. Given the nature of latest developments and their geographical relevance SE Europe will inevitably be at the centre of this discussion.
Given IEA’s Mid Term Gas Report projections for gas demand in Europe and in view of EU’s latest goals and policies aiming for the containment of greenhouse gas emissions, several countries which used to consume moderate amounts of gas for industrial purposes are likely to switch to increased gas use; since coal, lignite, oil products and nuclear power appear less environmentally friendly compared to natural gas. In spite of the fact that indigenous production still satisfies a substantial part of European energy consumption today, it is estimated that this will steadily decrease with time. As Europe’s own gas supplies dwindle, the continent will need more imported gas and, consequently, new transmission and storage capabilities. Thus, the building up of existing and the securing of new gas supplies, and the elimination of transit risks emerge as key issues for enhancing European energy security. It is anticipated that these two issues will be hotly debated at IENE’s forthcoming conference.
Overall, the purpose of the conference will be to review progress so far and to analyse the impact that specific gas transit projects are going to have on the economies and to the development of the region as a whole and how these may in the long run affect European energy supply. The meeting will further focus on gas market integration, the uninterrupted flow of gas across borders, the development and operation of new gas transit corridors and gas trading hubs and how these could help further improve the security of gas supply. In this context IENE will bring together executives from several companies and senior government officials from Austria, Hungary, Russia, Azerbajan, Iran, Serbia, Croatia, Bulgaria, Romania, Greece, Cyprus, Israel and Turkey, as well as representatives from major international organizations,from academic and research establishments and from the European Commission. The findings and conclusions of this regional conference will be reported by IENE soon after its conclusion for the benefit of all market players, the various governments and the EC.
Further information about the conference, including the programme and registration details, are to be found through the conference banner at IENE’s website www.iene.eu.
