Uncategory

IEA Chief Sees Energy Crunch for Europe next Winter

Europe should be able to cope with the natural gas supply crunch in the coming months thanks to considerable reserves although the continent could face a bigger energy crisis next winter, the head of the International Energy Agency has said. Fatih Birol said that, barring unforeseen events, “Europe will go …

Read More »

LNG Investment to Peak in 2024 at $42 Billion

As the global energy crisis deepens and countries scramble to secure reliable energy sources, investments in new liquified natural gas (LNG) infrastructure are set to surge, reaching $42 billion annually in 2024, Rystad Energy research shows. These greenfield investments are 200 times the amount in 2020 when just $2 billion …

Read More »

Global Oil Consumption Crashed By 9% In 2020

Due to the coronavirus restrictions and lockdowns, global consumption of petroleum and other liquid fuels crashed by 9 percent to 92.2 million barrels per day (bpd) in 2020, the U.S. Energy Information Administration (EIA) said on Friday, nothing this was the largest drop in EIA’s series dating back to 1980. …

Read More »