BP: a first in Algeria

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BG: unlocking Italy with Tony's help

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BHP Billiton: mad dogs and aluminum

It's been a good week for BHP, which also managed to resolve a long-running pollution dispute and gain approval for another oil joint venture. Last year's merger has left the Anglo-Australian company in a strong position to invest in new markets and distance itself from old mistakes. If it carries on as it has, BHP is set for a strong future.

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Liquefied natural gas: cargoes do not necessarily follow price

European utilities and governments are placing more and more emphasis on the movement of liquefied natural gas by tanker to bolster supply security. Sole reliance on regional price dynamics to attract deliveries of this important and flexible source of gas supply is not sufficient and additional strategies may be required.

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Europe's gas industry need not worry over talk of OPEC-style cartel

Recent comments by the head of Russia's parliamentary gas committee calling for the formation of an OPEC-like gas producers' cartel further highlight Europe's decreasing security of supply. However, while such a move would be potentially beneficial to producers and detrimental to consumers, it remains an unlikely development given the practicalities involved.

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GECF: no threat of 'gas OPEC'

Since several leading gas-producing nations joined the Gas Exporting Countries Forum (GECF), there has been widespread concern, from gas importers especially, that it would evolve into a 'gas OPEC' and hold them to ransom, squeezing either supply or price. The GECF has strongly denied this and, in any case, the very nature and structure of the GECF and the gas market make it extremely unlikely.

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TPIs play key role in I&C market

With the increasing liberalization and complexity of the industrial and commercial energy market, third-party intermediaries (TPIs) are more frequently employed by large energy purchasers to negotiate their energy supply contracts. Indeed, TPIs are vital to navigating the complex terms and conditions that are now part and parcel of these deals, and can also play a role in precipitating switching.

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Renewed fears of gas cartelization remain unfounded

The recent meeting of the Gas Exporting Countries Forum has again reignited fears that the organization will emerge as a gas OPEC. These fears have been further fuelled by plans to set up a price formula working group. However, the ability of the GECF to emerge as a gas OPEC, at least in the short to medium term, remains limited.

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Turkish gas: Iranian deal driven by pragmatism

In a bid to bolster its goal of becoming a major European gas hub, Turkey has entered into a deal worth around GBP1.75 billion with Iran, through which it will help to develop the region's massive South Pars gas field. Despite opposition to the deal on political grounds, the agreement will help to secure European energy supplies as alliances with Russia become increasingly risky.

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Algerian gas: a small step toward gas market liberalization

In its quest to further gas liberalization in Europe, the EU has recently reached an agreement with Algeria on the thorny issues of profit sharing mechanisms and gas resale destination clauses. Given that Algeria supplies around 15% of Europe's natural gas consumption, this represents a small but crucial step towards gas market liberalization.

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