EU - Energy Security in a Volatile World
As a net energy importer, some two thirds of the EU's total energy requirements will be imported by 2020. EU Member States possess only about 0.6% of the world's proven reserves of oil and 2% of the world's reserves of natural gas. However, the EU holds 7.3% of proven coal reserves, 16% of capacity for refining crude and 16% of the world's electric generating capacity. As the EU looks to secure future sources of power and energy supplies, the entry into force of two new Directives should make the enlarged EU the most integrated energy market in the world.
By Guy Isherwood.

Brent's Future
Oil has been the energy focus of 2004, with record prices having ramifications throughout the energy complex and for the global economy. But perhaps the most intriguing development was saved for the later part of the year; the first time that the New York Mercantile Exchange (NYMEX) and the International Petroleum Exchange (IPE) have directly competed in a single energy product market. Jeremy Wilcox maps the current market.
By Jeremy Wilcox.

Gas Supplies for Europe
Over the next ten years gas demand in Europe1 is expected to increase by 37% from 537 billion cubic metres (bcm) to 738 bcm. At the same time, European gas production will barely maintain its current level, with increased Norwegian output offset by declining production elsewhere - particularly in the UK. The combined result of these two trends is that gas imports will need to more than double over the decade ahead from 205 bcm in 2003 to 440 bcm in 2013.
By Brian Little.

North Africa - An Energy Source for Europe?
The importance of the North African countries to Europe's energy balance is set to increase dramatically over the next few years. Northern Africa and Southern Europe are natural energy partners, especially when it comes to natural gas. Southern Europe has a large and growing energy demand and minimal natural gas reserves. North Africa has more gas reserves than the whole of Europe, while the region's gas consumption is less than that of Italy. North Africa's own gas consumption is growing rapidly, with efficient combined cycle gas-fired power generation replacing oil-fired plants in a North African 'dash for gas'. And power demand in the region is surging on the back of rapid population growth and economic development, fuelling huge opportunities for investment in generation plant and infrastructure.
By Kingston Energy Consulting & Prospex Research review the prospects for North African Gas and Power.

Emitting Opportunities
The European Union Emissions Trading Scheme (EU ETS) starts in January, and yet few energy companies are ready to take part in this emerging new market. This lack of commitment is understandable to some extent, given that only five EU countries submitted their National Allocation Plans (NAPs) to the European Commission by the deadline of March this year. The plans stated the amounts of carbon dioxide emissions that the Member States would be allowed to produce between 2005 and 2007. But regardless of state-level inefficiencies, it seems that come January 1st, 2005, Europe will, for the first time, have an EU-wide trading market which will present opportunities for those that are ready and penalties for those that choose to ignore it. The European Union's Emissions Trading Scheme may be a significant new source of risk, but it also presents opportunities for those that are willing to be pro-active.
By Roger Pine, SunGard Energy Systems.

Green Energy Markets Beyond Growing Pains
Renewable energy is becoming a commodity on the global energy markets, guided principally by global, continental and local commitments to protect the environment and to improve security of supply. One area that proves that renewable energy is becoming economically viable and an important product of trade - as opposed to a product with a purely notional value - is the field of green energy. Many, if not all, utilities in Europe are selling green energy as a special product offering to their customers and there are already millions of customer buyers. Furthermore, some new companies in this field sell green energy exclusively.
By Rolf de Vos, GreenPrices.com.