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Who are OGP?

Who are OGP?. International Association of Oil & Gas Producers: - Exploration and production - 67 companies and associations Members account for more than half of the world‘s oil output + about 1/3 of global gas production

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Who are OGP?

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  1. Who are OGP? • International Association of Oil & Gas Producers:- Exploration and production- 67 companies and associations • Members account for morethan half of the world‘s oiloutput + about 1/3 of globalgas production • Office in London for global affairs since 1974Office in Brussels for representation towards the EU since 1992 Courtesy of NAM

  2. GIE Annual ConferenceRegional Gas Availability Bucharest 23rd and 24th October 2008

  3. Conventional wisdom or, the way it’s usually done!

  4. The Problem

  5. External energy dialogue • Benita Ferrero-Waldner, European Commissioner for external relations: “ the European Union has signed or is negotiating agreements with Azerbaijan, Ukraine, Kazakhstan, Turkmenistan, Algeria, Egypt, Morocco, Jordan , Iraq, the countries of the Gulf Co-operative Council and, when the political situation will allow it, it will negotiate with Iran” • The challenge is to turn these agreements into secure gas supplies:

  6. Secure gas supplies?

  7. Energy policy characteristics for secure gas supplies • The EU needs to foster a framework for energy trade that is characterised by legal stability, reliable institutions and respect for contractual agreements. • Recognise the importance of deeper, inter-dependent relationships of the EU with non-EU producer and transit countries to stimulate development of gas resources and gas pipeline infrastructure. • Europe requires a transparent, stable and predictable regulatory and fiscal regime that will attract the investment that is required. • A strong, competitive European market should be based on the principles of freedom to participate in the market and negotiate appropriate market solutions.

  8. Thank you for your attention! Richard.hall@opg.be

  9. Current business environment • World gas reserves are sufficient to meet the anticipated increase in demand. • Large global investments in gas developments have been sanctioned or are planned. • International companies are developing new ways of co-operating with national companies. • Producer countries are keen to export to an open and competitive European market. • Interdependence between producers and consumers will continue to increase. • The natural gas industry values long-term returns on investment over short-term profits

  10. OGP encourages the EU to: • Give a clear signal to all producer countries about the EU’s future demand for gas; • Deepen relations with producer countries to stimulate development of their gas resources; • Deepen relations with transit countries to stimulate development of gas pipeline infrastructure; • Help build stable political, legal and economic conditions to encourage access to resources and long-term investment in gas supplies, both globally and in Europe. • Recognise that long-term contracts are an essential requirement for investment in major gas developments within and beyond Europe.

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