A target model for the European gas market

Based on the conclusions of a high level seminar held in Brussels on 13 September 2012, which has benefited from the participation of a wide array of key stakeholders from the European Commission, national government, regulators and industry, as well as academic experts in the field. Its main conclusions are that :

• Regulatory stability is paramount to garantying the subsistance of long-term contracts, necessary to the continued availability of infrastructure financing;
• The European regulatory environment will inevitably lead to a greater role for the centralised “planning approach” to new investments, to the detriment of a more market-oriented approach;
• Many issues still need to be resolved between the EU and its main suppliers (e.g. Russia). A carefully balanced mix of policies will be required to this end (diplomacy, competition policy, etc.).