Legal, political, economic and infrastructural perspectives of the LNG market development in European Union Cover Image

Prawne, polityczne, gospodarcze i infrastrukturalne perspektywy rozwoju rynku lng w Unii Europejskiej
Legal, political, economic and infrastructural perspectives of the LNG market development in European Union

Author(s): Mateusz Bąk
Subject(s): National Economy, Supranational / Global Economy
Published by: KSIĘGARNIA AKADEMICKA Sp. z o.o.
Keywords: LNG; liquefied natural gas; energy security; gas supply; European Union

Summary/Abstract: The European Union is one of the biggest world gas consumers. At the same time, it is highly dependent on supplies from the Russian Federation. In particular, the countries of the Baltic Region, as well as Finland and Central Eastern Europe states are almost fully dependent on Russian gas. The global decrease in oil prices in recent months has led to similar price reductions on gas market. It also contributed to bigger discount on LNG supplies’ price to the European Union. The EU has now a great opportunity to diversify its gas supplies and increase energy security level through wider use of liquefied gas. LNG market creates the opportunity to buy gas on competitive prices and renegotiate on‑going long‑term contracts. Liquefied gas is widely used not only to produce electricity but also in automotive, petrochemical and medical sector. Full implementation of existing EU legislation, as well as the finalization of an EU strategy on the LNG market will guarantee gas imports at competitive prices to EU countries. However, particular attention should be given to expand gas interconnections and gas storage facilities.

  • Issue Year: 2016
  • Issue No: 1 (06)
  • Page Range: 7-51
  • Page Count: 45
  • Language: Polish
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