January 23, 2023
•News
The global gas market is undergoing a period of profound transformation as a result of new sources of supply, demand, changing trade patterns, and technological and policy shifts. The transition to a low-carbon economy and efforts to curb air pollution are also key policy aims that will impact the role of gas in the future energy mix.
To reduce Germany’s energy consumption while shielding consumers from high energy prices, the government announced in September 2022 a “protective shield” for which up to €200 billion would be available.
Russia’s invasion of Ukraine has seriously damaged the country’s reputation as a reliable gas supplier.
Global gas markets are experiencing a period of unprecedented tightness that has worsened since the Russian invasion of Ukraine in February 2022, as illustrated by the record spot prices of well above $50/million British thermal unit (mmBtu) in Asia and Europe as of early September 2022.
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