He said The head of the International Energy Agency, Fatih Birol, Today, Tuesday, global liquefied natural gas markets will see more limited supplies next year as European imports rise and Chinese demand likely to pick up.
In a conference during International Energy Week in Singapore, Birol added that only 20 billion cubic meters of new LNG capacity will be brought to market next year, noting that the world is in the midst of “the first real global energy crisis. “.
But Birol pointed out that the current energy crisis could be a turning point in its history to accelerate its clean sources and form a sustainable and safe energy system.
“Energy security is the prime mover (of the energy transition),” he said, as countries see energy technologies and its renewable sources as a solution to the crisis.
Birol explained that the International Energy Agency plans to increase renewable energy by nearly 400 gigawatts in 2022, a 20% increase from last year.
The head of the International Energy Agency stressed that the world will still need Russian oil flow at an encouraging level of 80 to 90 percent to meet demand, despite setting a cap on its price.
He said there are many details to be worked out regarding the setting of a ceiling on Russian oil prices, which aims to reduce Moscow’s revenues.
The International Energy Agency had previously said that measures to rationalize gas consumption in Europe will be “critical” this winter to maintain sufficient stocks in the event of a complete outage of Russian gas and a “late cold wave. “.
The agency expects a 0.8% decrease in global gas consumption this year and only a 0.4% increase in the next year, amid this tense environment in global gas markets, as movement resumed in 2021. with the end of the measures to reduce the Crown, and the beginning of the Ukrainian crisis on February 24th.
The International Energy Agency estimates that European countries will import more than 60 billion cubic meters of LNG in 2022, which is more than double the additional exports of LNG into global energy.
