The Energy Gang is back. We’re only a couple of weeks into the new year but already so much has happened.
A mild winter so far in Europe has sent wholesale gas prices falling, but there’s still a long way to go. Natural gas is expected to trade at 77.11 Euros per MWh by the end of the quarter, down to pre-Ukraine war levels. With prices down 50% since the December peak, what is that going to do for the rest of the world? It’s just one question we have as the gang looks ahead to 2023 and discuss the opportunities or challenges that may await the energy industry.
Melissa Lott, Director of the Centre on Global Energy Policy, is joined by Amy Myers-Jaffe, Director of the Energy, Climate Justice & Sustainability Lab, and research professor at NYU. Together they look forward to the next 12 months: we’re approaching a year of war in Ukraine but how much longer will it continue? What will that do for energy prices and investment this year?
Environmental action in 2023 will also be put under the microscope – who is investing, and where? Will we see a doubling-down on alternative energy or a shift back to legacy fuel production to mitigate recession?
Finally, the first COP to be held in the Middle East approaches at the end of the year. It’s a massive test of the credibility of the Gulf region’s net zero ambitions and pledges. Will it push them to decarbonise, or have previous COPs shown us that it’s all talk, no action?
As always, check out our Twitter to let us know your thoughts and any future topics you want us to discuss. We’re @TheEnergyGang.