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IEA Publications on 'Investment'
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World Energy Outlook 2009, 696 pages, ISBN 978-92-64-06130-9, paper €150, PDF €120 (2009)Special discounts:
- 30% discount for universities and non-profit organisations
- 50% discount for clients based in low income and lower middle income countries
For your special discount to be set up please click on ASK FOR A DISCOUNT and follow the procedure. Please do not place your order before receiving your confirmation e-mail.
Since WEO-2008, the economic downturn has led to a drop in energy use, CO2 emissions and energy investment. Is this an opportunity to arrest climate change or a threat that any economic upturn might be stifled at birth?
What package of commitments and measures should the climate negotiators at Copenhagen put together if they really want to stop global temperatures rising? How much would it cost? And how much might the developed world have to pay to finance action elsewhere?
How big is the gas resource base and what is the typical pattern of production from a gas field? What does the unconventional gas boom in the United States mean for the rest of the world? Are we headed for a global gas glut? What role will gas play in the future energy mix? And how might the way gas is priced change?
All these questions and many others are answered in WEO-2009. The data are extensive, the projections more detailed than ever and the analyses compelling.
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Natural Gas Market Review 2009 -- Gas in a world of uncertainties, 194 pages, ISBN 978-92-64-06413-3, paper €100, PDF €80 (2009) The global economic crisis has not spared the gas sector. Over the past year, we have moved from a tight supply and demand balance with extremely high gas prices to an easing one with plummeting gas prices. Since the last quarter of 2008, demand has been declining dramatically, essentially because of the global recession. Yet significant new volumes of liquefied natural gas will come on stream within the next few years, and United States unconventional gas production has risen rapidly, with global consequences. It remains to be seen how these demand and supply pressures will play out, particularly in the pivotal power sector, in both OECD and non-OECD countries.
Meanwhile, the security of gas supplies has once again become a critical issue, in particular in Europe after it experienced its worst supply disruption during the Russian-Ukraine crisis in January 2009.
Moreover, the current market climate of weakening demand, lower prices and regulatory uncertainties added to the tough financial environment are likely to jeopardise investments, in particular in capital-intensive projects, further undermining long-term energy security in the most fundamental way when economies recover.
The Natural Gas Market Review 2009 looks at these and other major developments and challenges in the different parts of the gas value chain in a selection of IEA countries – The United States, Canada, Spain, Norway, the Netherlands, and Turkey – as well as in non-IEA member countries in the Middle East, North Africa, Southeast Asia, and China.
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Medium-Term Oil Market Report (MTOMR) 2009, 126 pages, ISBN N/A, paper €500, PDF €400 (2009)Subscribers to the IEA Oil Market Report will receive the Medium-Term Oil Market Report (MTOMR) as part of their subscription. To subscribe to the Oil Market Report please click here: Oil Market Report
To order an individual copy of the MTOMR, please order on this page.
AVAILABLE IN PDF ONLY.
This fourth edition of the IEA Medium-Term Oil Market Report (MTOMR) confronts an economic landscape unrecognisable from that seen at the time of the release of the summer 2008 edition. Crude prices are now 55% lower as financial and economic meltdown have slashed demand, with worldwide contraction in oil use at levels not seen since the early 1980s. But how long will the downturn last, and what is the likely profile of global and regional demand recovery when economic rebound eventually takes root? Has almost a decade of rising prices and costs changed the demand-side blueprint and forced the world onto a lower oil intensity path for the period through 2014?
Equally importantly, the report identifies the impact that weaker demand, low prices and a credit squeeze are having on supply-side investment – in upstream OPEC/non-OPEC supply, biofuels capacity and refining infrastructure alike. The 2009 edition of the MTOMR also delves into the issues of diversifying FSU crude exports, evolving crude and product qualities, the importance of petrochemical markets and perceptions on oil price formation in the down-cycle. Two demand scenarios are presented based on differing economic growth assumptions, with a lower non-OPEC supply scenario also accompanying the lower GDP case. Summary oil balances highlight how OPEC spare capacity could develop during 2008-2014. This year, the MTOMR also consolidates analysis of future crude availability and trade flows, refining capacity and oil products supply implications under one cover.
The MTOMR remains required reading for policy makers, market analysts, industry participants and anyone with an interest in oil market trends. It contains detailed statistical appendices and a wealth of insightful graphics. Alongside its monthly sister publication, the Oil Market Report, the MTOMR is a cornerstone of the IEA commitment to enhancing oil market transparency.
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Medium-Term Oil Market Report (MTOMR) 2008, 97 pages, ISBN N/A, paper €500, PDF €400 (2008)FREE DOWNLOAD: Medium-Term Oil Market Report 2008
Why have oil prices hit $140 per barrel? How strong will oil demand be in the upcoming years? Will supply of crude oil, natural gas liquids and biofuels be sufficient to meet this future demand? And, no less crucially, what investments in refining capacity and technology can we expect and will these help ease some of the imbalance in strained oil product markets?
Now into its third year, the Medium-Term Oil Market Report published by the International Energy Agency (IEA) has become a new benchmark, complementing the short-term market analysis provided in the IEA Oil Market Report.
This year’s edition reappraises all upstream and downstream projects worldwide, setting them against a revised demand forecast and expanding the time horizon to 2013. Special features this year include in-depth analyses of price formation, transport trends, non-OECD economies, non-OPEC production decline, project slippage, key crude export pipeline developments and a stronger emphasis on product supply bottlenecks.
An essential report for all policy makers, market analysts, energy experts and anyone interested in understanding and following oil market trends, the Medium-Term Oil Market Report is a further element of the strong commitment of the IEA to improving and expanding the quality, timeliness and accuracy of energy data and analysis.
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Promoting Energy Efficiency Investments -- Case Studies in the Residential Sector, 324 pages, ISBN 978-92-64-04214-8, paper €100, PDF €80 (2008) Out of print - available in PDF only.
Existing buildings are responsible for over 40% of the world’s total primary energy consumption. An impressive amount of energy could be saved simply by applying energy-efficient technologies.
Yet, various market barriers inhibit energy efficiency improvements in existing buildings and result in energy savings that are significantly lower than potentials. Financial barriers -- including the initial cost barrier, risk exposure, discount-factor issues and the inadequacy of traditional financing mechanisms for energy-efficient projects -- play a major role. Policies that may help to overcome financial barriers to improving energy efficiency in existing residential buildings are the focus of this study.
The publication provides illustrations of policies and measures implemented in five IEA member countries and the European Union. Each case includes relevant background and contextual information, as well as a detailed evaluation of each policy according to five pre-defined criteria: relevance, effectiveness, flexibility, clarity and sustainability.
Promoting Energy Efficiency Investments aims to inform policy makers and offers ideas on the most effective policies, programmes and measures available to improve energy efficiency in existing residential buildings.
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World Energy Outlook 2007 -- China and India Insights, 670 pages, ISBN 978-92-64-02730-5, PDF €0 (2007)FREE DOWNLOAD: World Energy Outlook 2007
World leaders have pledged to act to change the energy future. Some new policies are in place. But the trends in energy demand, imports, coal use and greenhouse gas emissions to 2030 in this year’s World Energy Outlook are even worse than projected in WEO 2006.
China and India are the emerging giants of the world economy. Their unprecedented pace of economic development will require ever more energy, but it will transform living standards for billions. There can be no question of asking them selectively to curb growth so as to solve problems which are global.
So how is the transition to be achieved to a more secure, lower-carbon energy system?
WEO 2007 provides the answers. With extensive statistics, projections in three scenarios, analysis and advice, it shows China, India and the rest of the world why we need to co-operate to change the energy future and how to do it.
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Tackling Investment Challenges in Power Generation -- In IEA Countries, 208 pages, ISBN 978-92-64-03007-7, PDF €0 (2007)FREE DOWNLOAD: Tackling Investment Challenges in Power Generation
To meet increasing demand and replace ageing power units, considerable investment in new power generation will be required over the next decade. In most IEA countries a new investment cycle in power generation is looming: Many uncertainties create risks that may lead to inappropriate investment – too little, too late, in the wrong location and with the wrong technology. A window of opportunity now exists to push for a cleaner and more efficient generation portfolio that could transform the power sector and help to build a more sustainable infrastructure lasting over the next 40-50 years.
What are the recent trends and prospects for investment in power generation? What are the main drivers and barriers? This book assesses these issues and gives special emphasis to the question of how uncertainties may affect investment decisions. Uncertainties on CO2 constraints, on power plant licensing, on acceptability of nuclear power, on local opposition to any new energy infrastructure, on government support for specific generation technologies and on government policies on energy efficiency are particularly disturbing. Market liberalisation can also be a key uncertainty, but this may be greatly reduced and deliver considerable benefits if liberalisation is implemented whole-heartedly and backed by on-going government commitment.
Government action is urgently needed: to reduce regulatory uncertainty for investors, to establish effective competitive markets and to give firm policy directions in those areas where markets fall short, such as in taking environmental costs and security of supply into account. Tackling Investment Challenges in Power Generation shows the way forward.
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Climate Policy Uncertainty and Investment Risk, 144 pages, ISBN 978-92-64-03014-5, PDF €0 (2007)FREE DOWNLOAD: Climate Policy Uncertainty and Investment Risk
Our climate is changing. This is certain. Less certain, however, is the timing and magnitude of climate change, and the cost of transition to a low-carbon world. Therefore, many policies and programmes are still at a formative stage, and policy uncertainty is very high.
This book identifies how climate change policy uncertainty may affect investment behaviour in the power sector. For power companies, where capital stock is intensive and long-lived, those risks rank among the biggest and can create an incentive to delay investment. Our analysis results show that the risk premiums of climate change uncertainty can add 40% of construction costs of the plant for power investors, and 10% of price surcharges for the electricity end-users. Climate Policy Uncertainty and Investment Risk tells what can be done in policy design to reduce these costs.
Incorporating the results of quantitative analysis, this publication also shows the sensitivity of different power sector investment decisions to different risks. It compares the effects of climate policy uncertainty with energy market uncertainty, showing the relative importance of these sources of risk for different technologies in different market types. Drawing on extensive consultation with power companies and financial investors, it also assesses the implications for policy makers, allowing the key messages to be transferred into policy designs. This book is a useful tool for governments to improve climate policy mechanisms and create more certainty for power investors.
See also related working paper
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