What Could 2023 Deliver For Energy?
The Energy Gang
Wood Mackenzie
4.6 • 1.3K Ratings
🗓️ 13 January 2023
⏱️ 47 minutes
🧾️ Download transcript
Summary
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.
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Transcript
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| 0:00.0 | Hello, and welcome to the Energy Game. I'm Melissa Lot, the director of research for |
| 0:07.1 | the CEPA Center and Global Energy Policy at Columbia University. |
| 0:11.5 | We're just a week into the new year and I hate to say, but we've been hit by our first |
| 0:17.1 | COVID casualty. So Ed is off ill this week and Ed, we're really missing you and wishing |
| 0:22.5 | you the speediest of recovery. So sorry that this happened at the start of 2023. So I'll |
| 0:27.9 | be taking the reins today before Ed returns for the next episode. And while Ed is out, I'm |
| 0:32.1 | really pleased to be holding down the fort with someone who is quite familiar to listeners |
| 0:35.9 | of the Energy Gang and really anyone who's been working in the energy sector for a significant |
| 0:40.1 | period of time. And of course I'm talking about Amy Myers-Jaffee, the director of energy |
| 0:44.5 | climate justice and sustainability lab and research professor at the School of Professional |
| 0:48.4 | Studies at NYU. Hey Amy, how's your 2023 on? |
| 0:52.8 | So far my 2023 has been smooth, so fingers crossed that it stays that way. |
| 0:58.8 | Fingers crossed, I hope you enjoyed the holidays. |
| 1:00.8 | I did. I did a tricky thing. I decided to make a prime rib for Christmas which is always |
| 1:07.8 | a little difficult because my family, they like it medium rare and that's like really |
| 1:12.9 | hard to do but my meat thermometer performed and those people who liked it really read could |
| 1:19.5 | have it really read and those people who didn't want the ends to be too dark, got ends |
| 1:24.0 | that weren't too dark, so a successful Christmas effort. |
| 1:27.9 | That's nicely done. Go technology. The other day I was trying one of those candy thermometers |
| 1:32.2 | from my holiday cooking and we'll just say it didn't work out but maybe next time you |
| 1:36.7 | serve air for sure. |
| 1:38.8 | Well I know that the gang wrapped up 2022 before the Christmas break and we were talking |
... |
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