"The secret of success is to know something nobody else knows"

Aristotle Onassis

Meeting: May 16, 2017: The transformation of the natural gas market in the Baltic States and Central Europe: Has LNG become a game changer?

This interactive discussion of the Brussels Energy Club addressed the topic of:

 

"The transformation of the natural gas market in the Baltic States and Central Europe: Has LNG become a game changer?"

 

And took place on Tuesday May 16 2017, 4-8pm @ TUSIAD Avenue des Gaulois, 13, Brussels 1040

 

With special guest speaker:

Andrej V. BelyiAndrei V. Belyi 

Associate Professor, University of Eastern Finland, Project Researcher on gas markets, the Academy of Finland, Estonia-based consultant for his own firm Balesene OÜ

 

 

Background:

We tend to hear much in Brussels about the new LNG projects in Poland and the Baltic States. In particular, much of the focus is on the Commission and the governments in these countries hailing these projects as a "game changer" in their efforts to break the long-standing grip that Gazprom has over our security of supply of natural gas.

This is all good and fine. LNG projects in the Baltic region fit well into the mantra of the EU"s Energy Union initiative in that they contribute to the strategy of diversification of the gas supply. Indeed, some results have been achieved — Lithuania has achieved substantial discount from Gazprom following the commissioning of its new LNG terminal.

But how much do we really know about these projects? To what degree are they transforming the natural gas markets in Central Europe and the Baltics, ie, moving these towards more competition, more flexibility and ease in the trading of the blue fuel, and towards a more liquid market overall? What role have subsidies and state-aid played in their development? The unanswered questions continue.

The bigger picture of global gas trading is pointing us towards the conclusion that LNG, if not having yet arrived on the scene, is well and truly arriving. While pipelines remain the dominant mode of delivery of natural gas, global gas volumes delivered by LNG tanker are rising substantially and rather rapidly. More projects are coming on stream, more tankers are traversing the shipping lanes and more terminals are being built.

Once again, the question of our gas markets leaves us with much to ponder. With this in mind, we hope you enjoyed this BREC meeting where Andrei Belyi helped us understand how LNG in the Baltics and Central Europe fits into this bigger picture, and to what degree it is becoming a game changer in the transformation of the gas markets in the region itself.

 

Program May 16, 2017: 16.00 — 20.00:

  • Arrival of members and guests leading into welcome cocktail   
  • Setting out the debate by Dr Marat Terterov, Initiator and Founder, Brussels Energy Club,
  • Presentation by Professor Andrei Belyi, University of Eastern Finland, starting at 16.20
  • Roundtable discussion with meeting participants (NB: the Chatham House Rule will apply).
  • Our traditional networking reception with gala buffet will follow the main discussions

 

Speaker information 

Andrei V. Belyi (Andrey Belyy) is an Associate Professor at the University of Eastern Finland, a project researcher at the Centre for Climate Change, Energy and Environmental Law. Prior to 2015, he co-directed two Jean Monnet modules on energy and environment at the University of Tartu, Estonia. In the past, he also used to work at the Higher School of Economics in Moscow (Russia), where he co-directed Energy Policy Master Programmes from 2007 to 2012. In addition, he has been an Honorary Lecturer at the Centre for Energy, Petroleum, Mineral Law and Policy (Dundee, UK), provided short term lectures and workshops at the Global Energy Programme of the Warwick Business School (UK), at the Centre for Energy and Resources at the University College London in Adelaide, Australia, as well as at the University of Aberdeen. In addition to that, Andrei V Belyi is a Member of Brussels Energy Club and is part of the Editorial board of the Journal for World Energy Law and Business (Oxford University Press). With 16 years of consultancy services, he provides advice for the EU institutions, Russian governmental agencies, companies and private firms. Most recently, he has been involved in LNG bunkering business and in promotion of new technologies designed for these purposes, he founded a consulting company, Balesene OÜ, in Tallinn, Estonia

 

Further information

Participation in the interactive discussion at TUSIAD venue will be free of charge for members and guests of the Brussels Energy Club. For more information please contact Ben McPherson on research@brusselsenergyclub.org.

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