Mrs. Kartalou from Boston Consulting Group talked about the New Dynamics of Energy.

She started referring to:

  1. Energy dynamics: analyzing the complex interrelationships of industry, Geography and politics have come into greater focus (The Gulf of Mexico Disaster, Fukushima e.t.c.)
  2. Coal made a dramatic comeback post-2000 which has been driven by its availability in high-growth emerging economies. Sources that offer security of supply are undergoing resurgence
  3. A “nuclear renaissance” was emerging pre-Fukushima. In the early 2000s nuclear returned to the “acceptable” political agenda. Due to political U-turns on nuclear after Fukushima we now expect slower growth
  4. Renewables targets were set at ambitious levels. But how realistic is this when subsides and feed-in tariffs come under pressure? Becoming cost effective without subsidies is a key success factor for renewable
  5. Gas reserves remain concentrated and imbalanced. But shale gas has fundamentally and quickly altered the regional picture in the US. New, unexpected resources can now fundamentally and rapidly change regional energy landscapes
  6. Shale Gas ‘revolution’ has dramatically altered the US picture. Explosive growth of a new resource in a supportive environment. Global Shale Gas output grew by 7 times from 2005 to 2011
  7. Shale Gas could have a global impact. Traditional gas importers hold large Shale Gas resources. Global shale gas resources: 6,622 Tcf
  8. Today’s “high” oil prices are here to stay supported by both supply-side fundamentals and the budget needs of OPEC governments