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NATGAS: Increasing Role of Gas Supply Flex for Energy Security: IEA

NATGAS
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Gas supply flexibility plays an increasingly key back-up role in ensuring heat and electricity supply security in renewables-rich markets, according to IEA analyst Greg Molnar.

  • There is a qualitative change in the gas role in an increasingly complex and weather-dependent electricity system amid rapid renewables expansion.
  • Carefully assessment of asset investment is required to enable flexible gas supplies, including gas storage and reserve mechanisms.
  • Storage withdrawals provided US gas supply flex when winter storm Heather drove gas demand to an all-time high of 4 bcm/d and gas-based generation rose 40% in just a few days.
  • Gas-fired power generation in India rose by around one-third though May-July 2024 amid summer heatwaves. Flexible LNG procurements helped cover the incremental gas demand.
  • Gas-fired power output in Brazil increased by nearly 600% between June and October due to a steep decrease in hydro power output with flex provided by LNG.
  • In Europe, dunkelflaute episodes drove gas-based generation up 80% y/y in H1 Nov with increased supply from gas storage.

 

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Gas supply flexibility plays an increasingly key back-up role in ensuring heat and electricity supply security in renewables-rich markets, according to IEA analyst Greg Molnar.

  • There is a qualitative change in the gas role in an increasingly complex and weather-dependent electricity system amid rapid renewables expansion.
  • Carefully assessment of asset investment is required to enable flexible gas supplies, including gas storage and reserve mechanisms.
  • Storage withdrawals provided US gas supply flex when winter storm Heather drove gas demand to an all-time high of 4 bcm/d and gas-based generation rose 40% in just a few days.
  • Gas-fired power generation in India rose by around one-third though May-July 2024 amid summer heatwaves. Flexible LNG procurements helped cover the incremental gas demand.
  • Gas-fired power output in Brazil increased by nearly 600% between June and October due to a steep decrease in hydro power output with flex provided by LNG.
  • In Europe, dunkelflaute episodes drove gas-based generation up 80% y/y in H1 Nov with increased supply from gas storage.

 

Keep reading...Show less