Missed out on the webinar? Read the full report and watch the recording
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The webinar, organized by the Australian based company Energy Exemplar in cooperation with the Croatian Gas Center Ltd. and Croatian Gas Association (CGA) was held live on 30th of June 2020.
Tracey Granger, Lead Energy Market Analyst for Energy Exemplar, outlined the power and gas arbitrage opportunities arising from sector convergence due to the expected growth of the hydrogen economy and the emergence of power-to-gas (P2G) technologies. According to Granger the unintended consequence of decarbonisation policies across Europe has been an increase in electricity demand and there is an increasing mismatch between demand and supply shapes. What to do with excess renewables is a real issue. Post COVID-19 electricity demand in Europe is projected to rise by 1% per year due to the electrification of transport and switch to heat pumps for electric heating. Granger noted that there is a growing push from the electricity market that is actually matched by a pull from the gas market because gas needs to decarbonise really fast and the main viable options now are those coming from linkages with hydrogen and the power market.The live webinar, moderated by Davor Matic, M.Sc., CGA’s Vice-President, covered current themes relevant to both the global gas industry and South East Europe in particular, such as power and gas sector convergence, gas contract and supply planning, stochastic gas storage valuation and co-optimisation of gas and power markets as a result of sector convergence and LNG perspective for Central and Eastern Europe.
She focused on the importance of modelling power and gas markets together, co-optimised, to take advantage of the potential for storage and transport of electricity as a gas, demonstrating that this could reduce CO2 emissions and reduce power market price volatility. She believes that such modelling shows that in the 2030s surplus renewable generation can be utilised for increased P2G, which would depress electricity prices.
She emphasized that the ENTSO-E’s and ENTSOG’s scenarios show that power and gas can no longer be considered separately and that power-to-gas (P2G) is an essential part of their scenarios as it adds essential flexibility to the electricity market by converting surplus renewable electricity to gas and storing it as hydrogen and enables usage of the current gas infrastructure with limited additional investment or technological risk. Granger continued that ENTSOs’s central case scenario predicts 30 GW of P2G within 20 years which is more than the peak load of Poland. The distributed energy case has got 500 GW of P2G in the EU, that is 20% of the EU current gas import volume being generated internally. To read the rest of the report click here.
The webinar served as an introduction to the Energy Exemplar’s workshop which will take place on the 22nd of October during the jubilee 35th International Scientific & Expert Meeting of Gas Professionals
For more info please contact: Croatian Gas Centre Ltd.; e-mail: anita@hsup.hr; Phone +385 (0)1 6189 590
