This background note was developed to inform the discussions at the Special IEA Ministerial on Gas Markets and Supply Security on 15 February 2023. It assesses the latest developments in European and global natural gas markets, taking into account the impacts of the energy crisis triggered by Russia’s invasion of Ukraine in 2022.
Global liquefied natural gas (LNG) supplies are likely to remain tight through 2025, curbing demand growth in key Asian import markets. European LNG demand may remain strong in the short term, but will decline by 2030 as decarbonization and energy security policies take effect.
This report assesses key drivers, potential, barriers, and solutions of developing natural gas value chains in Africa to fight energy poverty and enable a just energy transition.
European and global natural gas markets are not yet out of the danger created by Russia’s cuts to pipeline deliveries of gas. If gas exports from Russia drop to zero and China’s LNG imports rebound to 2021 levels, there is a risk of a shortfall gas supplies in 2023.
Massive LNG expansion plans will seriously compromise meeting the 1.5°C limit. New CAT analysis finds the LNG capacity now under construction, coupled withexpansion plans, could increase emissions by over 1.9 GtCO2e per year in 2030 above emission levels consistent with the IEA’s Net Zero by 2050 scenario.
The African Energy Chamber has launched ‘The State of African Energy: 2023 Outlook,’ a consolidated report providing global investors and energy companies with the insights they need to make informed decisions in 2023 and beyond.
Allocating India’s additional domestic gas supply to the power sector would enable some stranded and underutilised gas-based plants to serve as flexible generation – providing an interim solution to firm variable renewable energy while battery storage scales up and becomes cost-competitive, according to this new report by the Institute of Energy
The global liquefied natural gas (LNG) industry has pinned its long-term hopes for growth on emerging markets in China, South Asia, and Southeast Asia. But this new IEEFA report finds that sustained high prices over the past year have eroded the economic case for LNG and hurt LNG sales in key Asian markets.
Russia’s invasion of Ukraine has exacerbated the tightening supply of natural gas underway since mid-2021, further pushing up prices for consumers and leading to fuel switching and demand destruction.
The world is going through a major energy crisis as a result of Russia’s invasion of Ukraine. At the same time, the next few years are critical for climate action—a last chance to keep the 1.5°C temperature limit within reach.
