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Market stability is energy security premise

Market stability is energy security premise

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Signs of global energy markets shift to Asia, the Middle East and Africa oil and gas producers have growing Asian demand for energy, are also beginning to adjust strategy.
The smooth realization of the transfer, is not without preconditions. The royal institute of strategic studies (ChathamHouse) recently held "the Middle East and north Africa energy outlook 2014: new variables and new opportunities," international conference, OPEC secretary general AbdallaSalemEl - Badri stressed the importance of price stability in the keynote address.
According to the international energy agency (IEA), the world will consume more than one hundred million barrels of oil a day in 2035, higher than the existing fields at the time the daily oil production, so we need to develop new fields to fill the balance. Global gas will in 2035 up 50% because of the development of unconventional natural gas and this can greatly relieve the energy demand, of course, but not the whole solution to energy demands.
In the foreseeable future, still dominate the global energy market, oil and gas in this area, the Middle East and north Africa is crucial to the suppliers. Energy experts stressed in the meeting, the Middle East and north Africa, conventional and unconventional oil and gas production in the long run will continue to improve, has rich oil and gas resources of Iraq. The IEA predicts that Iraq could become the biggest driver of global energy output.
However, there are analysis, points out that the local energy consumption will rise sharply as the country's economic development, therefore need to increase in infrastructure, water management, legal framework and the financial system of investment and construction, estimated to be $600 million to $700 million a year.
Investment needs a perfect market of oil and gas, which is a common challenge national, international cooperation is very important. In recent years, countries are discussing how to avoid sharp price fluctuations, think to improve the function of the oil and gas market is the key. Energy experts argue that need through the international platform to strengthen the dialogue between producer and consumer in order to improve the function of the market. Since 2011, the international energy cooperation between international organizations such as BBS and the IEA and OPEC, study how to improve the energy market transparency. International oil and gas prices have experienced stable period, then states the status quo, to ignore the importance of dialogue, a lack of vigilance, resulted in the adverse consequences. Now when the need to remedy.
The size of the energy market, size, complexity, the oil and gas become a unique commodity. Energy price stability is closely related to every country. OPEC secretary-general emphasized the need to stabilize the market, ensure the fair price and eliminate fluctuation. Long-term oil prices and market volatility are difficult to manage, but for the future stability framework is feasible, and is committed to maintain a balance between supply and demand. Can try our best to develop market framework between countries, improve the clarity and predictability in energy markets. He thinks now for energy security is the most important factors of stability, stability and stability, which need to build a can let the investment expansion, stimulate economic growth and bring a reasonable return for producers of stable environment; And long-term price stability is the basis of above all, presupposition of Middle East Africa east lose energy.