JODI Partners

The Joint Organisations Data Initiative is a concrete outcome of the producer-consumer energy dialogue. The initiative gathers data from around 100 countries on key oil supply and demand indicators. The data, having first been submitted through the IEF's JODI partner organisations (APEC, EUROSTAT, IEA, IEF, OLADE, OPEC, UNSD) is collated and disseminated through the JODI Oil World Database (www.jodidata.org) hosted by the IEF.

The importance of exchanging data as a means to enhance transparency of global energy commodity markets is recognised by IEF Energy Ministers as being beneficial to energy security and in the interest of producers and consumers alike.

The initiative relies on the combined efforts of producing and consuming countries and the seven JODI partner organisations to build the data provision architecture which is a prerequisite for the delivery of timely, comprehensive, and sustainable energy statistics necessary to underpin stable energy commodity markets.

By helping to mitigate some of the uncertainties that may be detrimental to market functionality, JODI aims to moderate undue price volatility, thereby increasing investor confidence and contributing to greater stability in energy markets worldwide.

Asia Pacific Economic Cooperation (APEC)

Statistical Office Of The European Communities (EUROSTAT)

International Energy Agency (IEA)

International Energy Forum (IEF)

Latin American Energy Organization (OLADE)

Organization Of The Petroleum Exporting Countries (OPEC)

United Nations Statistics Division (UNSD)

Dialogue Insights

Gas is far from being just a bridging fuel. Gas is here to stay.

An integrated global gas market is not likely in the near term.

The three main gas regions (North America, Europe, & Asia) will keep their own fundamentals for some time.

The regionalisation of gas markets does not imply lower interdependence.

In the US, cheap gas displaced coal but in Europe cheap US coal has displaced gas.

The energy mix in one region depends on the energy mix in another.

In North America, UK, & increasingly Europe, gas trading at hubs provides liquid & transparent pricing data.

In the US, deregulation & financialisation of the gas market helped establish a price based on fundamentals.

The logic for establishing an Asian gas-pricing hub is questionable as the number of buyers & sellers is small.

Demand for natural gas in the coming decades is projected to come mainly from non-OECD countries.

Prospects for natural gas consumption are still tied to its applications as much as to its relative price.

Gas usage depends heavily on an anchor technology, such as electricity generation.

Markets remain interconnected and interdependent, despite the recent "re-regionalisation" of gas markets.

More dialogue is required to analyse possible changes to the structure of gas contracts.

Long-term contracts help ensure security of supply & demand, but there is room to incorporate market signals.

Policymakers must balance short-term mandates with long-term goals for the nations they represent.

Most stakeholders and market actors do not grasp the degree to which renewables need gas as a backup.

Industry and government should work together to address "herd mentalities" regarding entering new markets.

Future gas demand levels for transportation remain a "known unknown".