• EPRINC and IEEJ CoHost DC Workshop: “Global LNG, Energy Security, and the Transition”

    The Institute of Energy Economics Japan (IEEJ) in Tokyo and the Energy Policy Research Foundation, Inc. (EPRINC) in Washington DC have hosted an in-person workshop on December 15-16, 2022 in Washington, DC. The workshop, Global LNG, Energy Security, and the Transition, brought together a small group of policymakers, practitioners, and experts from the U.S., Asia, and Europe to chart a path forward to address fundamental challenges of meeting rising global requirements for LNG, new threats to energy security, and measures to cost-effectively address the challenges of the energy transition. The workshop supported the six-year joint effort of IEEJ and EPRINC on the role of LNG in sustaining global energy security and worldwide requirements for new energy supplies.

    Background

    Prior to the Russian invasion of Ukraine, world energy markets were experiencing sustained shortages and rising prices from years of underinvestment in oil and natural gas production. Today, pricing pressure on LNG continues to rise well above historic trends from rising demand in Europe as the continent searches for alternative sources to replace lost supplies from Russia. Of special concern in the current market environment for Asia is the severe cost constraints in using LNG. The rapidly rising cost of LNG is especially troublesome for the developing world in Asia as sustained high prices will incentivize continued reliance on coal and petroleum liquids. High prices for LNG will undermine initiatives throughout Asia to pursue Net-Zero aspirations.

    Securing adequate new supplies of LNG for the world market requires overcoming a series of unique financial, policy, and regulatory challenges. LNG projects require large-scale financial commitments binding sellers and buyers for much as 20 years for projects to reach final investment decision. In many cases, aspirational goals seeking to abandon so-called legacy fuels and leap directly to the renewable fuels and low carbon technologies of the future can be counter-productive and undermine long-term progress to Net-Zero outcomes. The energy transition will be both long and difficult. LNG and natural gas offer numerous opportunities for both the developed and developing world to enhance energy security, accelerate the transition away from coal, and make substantial progress in achieving lower carbon emissions. International financial institutions, public financial institutions and private banks will have to work together to ensure that LNG development can proceed with adequate long-term commitments and sufficient investment to bring substantial volumes of new supplies to the market.

    Venue and Discussion Topics

    Our excellent venue, the Cosmos Club, permitted extensive opportunities to discuss the broad challenges of energy supply and geopolitical stress points. We identified five subject areas to focus the panel presentations and discussions. These were:

    1. LNG’s Role in World Energy Supply; Now and in the Future
    2. Addressing Policy Obstacles and ESG Challenges in Bringing New LNG Supplies to Market
    3. The Role of Public and Private Financial Institutions in LNG Production
    4. Asian Energy Security and the Energy Transition – How the Asian Economies Adjust to the New Price Environment and Security Threats
    5. What Advice Should We Give to the G7 for Next Year

    Additionally, EPRINC and the Embassy of Japan in Washington DC cohosted a dinner to facilitate more discussion between participants the evening of December 15.

    The presentations from the workshop can be downloaded from this link, the agenda from the workshop is here, and photos from the two day event are here.

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  • EPRINC President Lucian Pugliaresi and EPRINC Fellow Trisha Curtis Participate in Heritage Foundation Panel

    On Wednesday, November 9 at noon, EPRINC President Lucian Pugliaresi and EPRINC Fellow Trisha Curtis participated in a Heritage Foundation panel called “What Will Happen to Energy in the Next Congress?” The panel, hosted by Heritage’s Diana Furchtgott-Roth, was described by Heritage as follows:

    “The soaring price of energy concerns all Americans, from high costs at gasoline pumps to exorbitant electricity bills. The solution is under our own feet. The United States has energy reserves of oil and natural gas that would allow us to lower prices by increasing production of energy and pipelines, which are needed to move the resources across the country. So, what might the next Congress do to lower energy prices?”

    The video of the event can be found on the Heritage Foundation website, here.

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  • EPRINC’s Max Pyziur Participates in Westchester County Association (WCA) Sustainable Business Conference
    On Thursday July 14, 2022, the Westchester County Association (WCA) held their first Sustainable Business Conference. Focusing on the implementation challenges of New York State’s 2019 Climate Leadership and Community Protection Act and other related legislation, the WCA convened an afternoon of panels, plenary events, and a networking reception to discuss approaches and feasibility.
     
    EPRINC’s Max Pyziur participated in the Conference’s panel discussion “Moving New York to a Low Carbon Future – How Can We Get There?” Max’s presentation underscored the scale of the challenge in the context of global and U.S. GHG emissions, as well as offering perspective on implementation risk by reviewing key power grid events in California and Texas.
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  • IEEJ and EPRINC CoHost a Webinar “LNG: Addressing the Near-Term Energy Crisis and Long-Term Environmental Challenges”

    On February 25 2022 at 8:30am–11:00am (Tokyo Time – JST) / February 24 6:30pm–9:00pm (Washington Time – EST), IEEJ and EPRINC cohosted a webinar, “LNG: Addressing the Near-Term Energy Crisis and Long-Term Environmental Challenges.” 
     
    The post-pandemic world has now moved to a global energy crisis, price shocks, supply shortages, and a geopolitical standoff in Europe. The IEEJ/EPRINC workshop explored LNG’s role in policy strategies to both address the crisis and examined its longer-term role in the energy transition to a lower-carbon future. It will also included a discussion on the potential role of ammonia in the transition. 
     
     Speakers included Chairman and CEO of the Institute of Energy Economics Japan (IEEJ), Tatsuya Terazawa;  President of EPRINC, Lucian Pugliaresi; former U.S. Secretary of Energy Dan Brouillette; LNG Allies President Fred Hutchison; Tellurian President and CEO Octávio Simões, EVP at Diamond Gas International Japan Branch Tetsuya Nishigaki; the Japan Gas Association General Manager Yuji Kumai, JERA General Manager Kenji Takahashi, and others as well as U.S. and Japanese industry leaders, experts from think tanks, the Institute for Energy Economics Japan and the Energy Policy Research Foundation for a discussion on role of LNG addressing the worldwide energy crisis and long-term environmental challenges.

    The agenda from the event can be found here, and the presentations are located here. The link to view the recording of the webinar is here.

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  • GGC/EPRINC Webinar “Power Disruptions in Texas and California: Energy Price Shocks in Europe”

    EPRINC has cohosted a webinar with the Global Gas Centre (GGC). The workshop was held on February 2, 2022 at 9:00 to 11:30 AM (Washington time) / 3:00 to 5:30 PM (Geneva time).

    Recent power failures in the U.S. have raised public concerns about the stability and resilience of North American electricity grids. Spiking energy prices in Europe and ongoing constraints in natural gas supplies are pointing to a sustained crisis on the European Continent. While no single event can be identified as the primary cause of this turmoil, energy policies have played an important role and hold lessons for policy makers on both sides of the Atlantic.

    Speakers included former U.S. Secretary of Energy Dan Brouillette; former Chairman of the Federal Energy Regulatory Commission (FERC), Neil Chatterjee; Arno Büx from Fluxys, European Natural Gas System Operator; Thomas Popik, Chairman and President, Foundation for Resilient Societies;
    as well as U.S. and European industry leaders, experts from think tanks, the Global Gas Center and the Energy Policy Research Foundation. The discussion covered growing pressures on energy markets in the U.S. and Europe and what lessons policy makers should take from these developments.

    A video recording of the workshop can be found here. Presentations from the event are here, and the event agenda is here. A report and overview of the workshop is here.

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EPRINC’s Max Pyziur Participates in Westchester County Association (WCA) Sustainable Business Conference
On Thursday July 14, 2022, the Westchester County Association (WCA) held their first Sustainable Business Conference. Focusing on the implementation challenges of New York State’s 2019 Climate Leadership and Community Protection Act and other related legislation, the WCA convened an afternoon of panels, plenary events, and a networking reception to discuss approaches and feasibility.
 
EPRINC’s Max Pyziur participated in the Conference’s panel discussion “Moving New York to a Low Carbon Future – How Can We Get There?” Max’s presentation underscored the scale of the challenge in the context of global and U.S. GHG emissions, as well as offering perspective on implementation risk by reviewing key power grid events in California and Texas.

IEEJ and EPRINC CoHost a Webinar “LNG: Addressing the Near-Term Energy Crisis and Long-Term Environmental Challenges”

On February 25 2022 at 8:30am–11:00am (Tokyo Time – JST) / February 24 6:30pm–9:00pm (Washington Time – EST), IEEJ and EPRINC cohosted a webinar, “LNG: Addressing the Near-Term Energy Crisis and Long-Term Environmental Challenges.” 
 
The post-pandemic world has now moved to a global energy crisis, price shocks, supply shortages, and a geopolitical standoff in Europe. The IEEJ/EPRINC workshop explored LNG’s role in policy strategies to both address the crisis and examined its longer-term role in the energy transition to a lower-carbon future. It will also included a discussion on the potential role of ammonia in the transition. 
 
 Speakers included Chairman and CEO of the Institute of Energy Economics Japan (IEEJ), Tatsuya Terazawa;  President of EPRINC, Lucian Pugliaresi; former U.S. Secretary of Energy Dan Brouillette; LNG Allies President Fred Hutchison; Tellurian President and CEO Octávio Simões, EVP at Diamond Gas International Japan Branch Tetsuya Nishigaki; the Japan Gas Association General Manager Yuji Kumai, JERA General Manager Kenji Takahashi, and others as well as U.S. and Japanese industry leaders, experts from think tanks, the Institute for Energy Economics Japan and the Energy Policy Research Foundation for a discussion on role of LNG addressing the worldwide energy crisis and long-term environmental challenges.

The agenda from the event can be found here, and the presentations are located here. The link to view the recording of the webinar is here.

GGC/EPRINC Webinar “Power Disruptions in Texas and California: Energy Price Shocks in Europe”

EPRINC has cohosted a webinar with the Global Gas Centre (GGC). The workshop was held on February 2, 2022 at 9:00 to 11:30 AM (Washington time) / 3:00 to 5:30 PM (Geneva time).

Recent power failures in the U.S. have raised public concerns about the stability and resilience of North American electricity grids. Spiking energy prices in Europe and ongoing constraints in natural gas supplies are pointing to a sustained crisis on the European Continent. While no single event can be identified as the primary cause of this turmoil, energy policies have played an important role and hold lessons for policy makers on both sides of the Atlantic.

Speakers included former U.S. Secretary of Energy Dan Brouillette; former Chairman of the Federal Energy Regulatory Commission (FERC), Neil Chatterjee; Arno Büx from Fluxys, European Natural Gas System Operator; Thomas Popik, Chairman and President, Foundation for Resilient Societies;
as well as U.S. and European industry leaders, experts from think tanks, the Global Gas Center and the Energy Policy Research Foundation. The discussion covered growing pressures on energy markets in the U.S. and Europe and what lessons policy makers should take from these developments.

A video recording of the workshop can be found here. Presentations from the event are here, and the event agenda is here. A report and overview of the workshop is here.

EPRINC Workshop on The Transport Climate Initiative (TCI): Challenges and Opportunities

EPRINC held a virtual workshop on The Transport Climate Initiative (TCI): Challenges and Opportunities on June 16, 2021. 
 
EPRINC staff, policymakers, and regional experts explored the effectiveness of the program to meet its goals of lowering greenhouse gas (“GHG”) emissions. Among the topics discussed were how the program fits in with U.S. and international efforts to accelerate the energy transition, an assessment of the program’s impact on consumers, implementation challenges, and opportunities for green investments.   
 
The Transportation and Climate Initiative (TCI) is a regional collaboration of potentially 12 Northeast and Mid-Atlantic states and the District of Columbia seeking to reduce consumption of petroleum-based fossil fuels in the transportation sector and introduce cleaner fuels and more effective transportation systems.  The list of potentially participating jurisdictions are: Connecticut, Delaware, the District of Columbia, Maryland, Massachusetts, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, Vermont, and Virginia.

The agenda for the event can be found here, the presentations that were given are here, and the full video recording of the event is here.

A report on the event was written by Ashutosh Shastri, Senior Advisor, Global Gas Centre & Distinguished Fellow, EPRINC, and can be accessed here.

Global Gas Centre and EPRINC Co-Host Virtual Workshop “Future of North American Natural Gas In A Carbon-Constrained World

The Energy Policy Research Foundation and the Global Gas Centre have jointly hosted a webinar on the “Future of North American Natural Gas In A Carbon-Constrained World.” A group of about 60 industry leaders, researchers, and senior policymakers participated in the workshop on June 3, 2021.  
 
GCC and EPRINC are collaborating on a joint effort to evaluate the role of North American natural gas as governments worldwide undertake efforts to accelerate the energy transition. Among the more important objectives of this joint effort are identifying recent trends and longer-term uncertainties in North American natural gas markets, government and industry initiatives to address GHG emissions and the role of natural gas both in energy markets in North America as well as in the world market as an important fuel source through LNG exports. EPRINC and GCC staff, experts, policymakers, and a cross-section of industry executives continued this discussion on the current state of the North American natural gas market and an assessment of the new regulatory environment.

The agenda from the event is here, and the presentations that were given at the workshop can be found here. A full recording of the workshop can be accessed here.

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