It was on the occasion of International Energy Week that the Director General of the IEA drew attention to the twin challenges of the liquefied natural gas and oil markets.
On the one hand, Turkish economist Fatih Birol, quoted by Reuters, emphasized that An increase in European imports of liquefied natural gas and the possibility of renewed demand from China for this fuel is expected to eventually squeeze the market. – taking into account the forecast for the coming year input the new capacity is only 20 billion cubic meters.
Simultaneously, The international economy will have to deal with the consequences of the decision by the Organization of the Petroleum Exporting Countries and its allies (OPEC+) to cut production by two million barrels a day.. Birol said it was a “risky” choice as the IEA estimates global demand growth in 2022 at almost two million barrels a day.“I think this decision is truly unfortunate,” said Fatih Birol, referring to the production cuts imposed by OPEC+.
According to the Director General of the International Energy Agency, is “particularly risky” given that “several of the world’s economies are on the brink of recession.”.
Another idea floated by an official in Singapore was that the world would still need Russian oil, even with a price ceiling.
Recall that last month the G7 agreed to limit the sale of Russian oil until the beginning of December by setting a price ceiling.
Birol objected, however, that the current context of the energy crisis could find a recovery curve if the so-called clean and renewable energy path takes hold.. This transition finds in “energy security” “engine number one”.
with agencies
