Energy sector: outlook and opportunities
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The recent energy crisis has highlighted our economies' dependence on energy resources. With fossil fuels becoming less available, and a necessary transition to more decarbonised alternatives, could tomorrow's energy not become more expensive and less certain in availability?
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Selected excerpts from the new episode of Coface's podcast Trade Talk, with Jean-Christophe Caffet, Coface's chief economist and Marc-Antoine Eyl-Mazzega, Director of the Energy & Climate Center at IFRI.
The podcast highlights the following points:
- Despite the Ukrainian conflict, Europe avoided gas supply disruptions during winter due to high temperatures, efficient energy use, and production cuts.
- China's zero Covid policy ensured Liquified Natural Gas (LNG) supplies, resulting in high gas stocks for the upcoming winter.
- Europe quickly adapted to interruptions in gas flows from Russia by establishing a West-East system and leasing floating regasification facilities in Germany.
- Increased LNG imports are expected with China's economic reopening and geopolitical rapprochement, reducing concerns over supply disruptions.
- The oil market remains tight due to underinvestment and limited shale oil production, potentially leading to rising oil prices and inflationary pressures.
- Energy plays a significant role in inflation, requiring investments in green and decarbonized energies.
- Emerging countries and Europe face challenges in energy supply, necessitating attention to strategic issues and industrial policy revival to avoid job losses and vulnerability to geopolitical shocks.
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Marc-Antoine EYL-MAZZEGA
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Director, Center for Energy & Climate, Ifri
