Energy Security in a Fragile World
For years, energy security was defined as the availability of adequate supplies at affordable prices. For producing countries, energy security now also means the long-term availability of customers willing to pay market prices so as to justify the necessary investments to bring adequate capacity onstream. Today, energy security is as much security of supply for the consuming countries as security of demand for the producers. In some cases, energy security can then become a confrontational stance rather than a unifying factor.
In a presentation given in London at a conference organized by Chatham House, Vera de Ladoucette, CERA Senior Vice President and Senior Director, Middle East Research, addresses the new dimension of energy security:
* the enlarged security of supply paradigm for consumer countries
* the consequences of the new security of demand concern for producing countries
* the means to avoid a collision course between these diverging views of energy security: dialogue between producing and consuming countries, but also a new business model for cooperation between national oil companies and international oil companies
