Paris Time Workshop — Online, Zoom

IEA Workshop on Gas Supply Security

Background information

Russia's invasion of Ukraine profoundly transformed European and global gas markets. While the immediate effects of last year's supply shock have eased since the beginning of 2023, the structural changes which emerged in 2022 will persist for years – and should be carefully assessed both by policy makers and market players.

LNG became a new baseload supply for Europe, while China’s balancing role in the global gas market is set to increase over the medium-term. In this context, the architecture of global gas supply security and the underlying flexibility mechanisms need to be reassessed through an ever-closer dialogue between responsible producers and consumers.

In an era of heightened geopolitical uncertainty, global gas supply security is set to remain at the forefront of energy policymaking, with growing complexity both in the short- and long term. Ensuring secure supplies of LNG, in particular, will require policy makers, in close coordination with private actors, to facilitate the development of innovative commercial offerings, novel procurement mechanisms and new co-operative frameworks.

With the support of Japan’s Ministry of Foreign Affairs, the current workshop aims to provide an assessment of the challenges related to global gas supply security and identify policy options to mitigate risks and uncertainties weighing on gas supply adequacy. The workshop provides a special focus on Asia’s fast-growing markets, where natural gas is closely linked to policies aiming to phase-out coal-fired power generation.