The International Energy Agency has described the current state of energy markets as “the first truly global energy crisis in history.” It also says it could get worse.
International Energy Agency executive director Fatih Birol has warned that supplies could tighten further next year.The IEA’s executive director, Fatih Birol, speaking at the Singapore International Energy Week on Tuesday, said that natural gas and LNG markets would tighten further next year, with only modest of new liquefaction capacity scheduled to come online. With supply remaining tight, demand for gas would continue to be strong, especially in Europe and perhaps in China, he said.
Gas storage facilities in Europe are on average 93.6 per cent full. In Germany they are at 97.5 per cent of capacity. On average, storage levels are about 14 percentage points higher than they were at the same time last year.So much LNG has been contracted that there are about 60 LNG tankers off the European coastlines, unable to unload because of a lack of sufficient regasification capacity.
the power companies are laughing all the way to.....
'Sparked by Russia's invasion'.
The energy crisis started about 8 years ago when the great renewables experiment began.
Global warming hysteria will kill millions. Is that the plan?
Over reliance on renewables will do that to you.