• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Sectors Energy

IEA warns geopolitical tensions could mar global gas supply as winter approaches 

Aghogho Udi by Aghogho Udi
October 4, 2024
in Energy, Sectors
IEA warns geopolitical tensions could mar global gas supply as winter approaches 
Share on FacebookShare on TwitterShare on Linkedin

The International Energy Agency (IEA) has raised concerns over potential challenges in gas supply due to increasing global consumption and ongoing geopolitical tensions as winter nears.

In its latest report, the IEA noted that industrial demand, especially from Asia, is fuelling a sharp rise in gas usage.

The agency forecasts that global gas demand will grow by more than 2.5% this year, hitting a record 4,200 billion cubic metres.

RelatedStories

Mele Kyari,

NNPCL partners A4E Energy to build 100mmscf/d gas distribution facility in Ajaokuta 

October 21, 2024
G7 Leaders

FG eyes G7’s energy projects investment in Nigeria, others 

June 15, 2024

The IEA also projected a further 2.3% increase in global gas demand by 2025.

One key uncertainty as Europe approaches winter is the transit of Russian gas through Ukraine, the agency noted. Existing contracts are set to expire at the end of 2024, potentially cutting off all Russian gas supplies to Europe via this route.

To offset this, Europe will need to ramp up its imports of liquefied natural gas (LNG) next year, the IEA added. However, this would place additional pressure on global supplies, as LNG remains crucial for balancing supply and demand.

The IEA highlighted that while bottlenecks in the Panama Canal and the Red Sea are affecting shipping, they have not yet caused a reduction in LNG supplies.

However, these disruptions reveal vulnerabilities in the LNG trade within an increasingly interconnected global gas market. The agency urged for more flexibility in gas and LNG value chains and stressed the importance of integrating Ukraine’s gas storage system into the global supply network.

Keisuke Sadamori, the IEA’s director for energy markets and security, noted that the projected growth in global gas demand this year and next signals a slow recovery from the energy crisis that severely impacted markets.

He warned, however, that the balance between supply and demand remains fragile and susceptible to volatility, underscoring the need for strong collaboration between producers and consumers.

Backstory  

Geopolitical tensions in the past few weeks has risen following the escalation of the Israel-Hamas conflict to involve near full blown war with Iran. This is coming after the assignation of Hezbollah leadership in Lebanon by Israel and Iran’s

The Israel-Hampshire conflict joins the more than two year old conflict between Russia and Ukraine in Eastern Europe.

What this means for Nigeria 

Around 70% of Nigeria’s electricity is generated from gas which is an international commodity and priced in dollars. Disruption is global supply chain and increase in demand could increase gas prices which will affect electricity tariffs in Nigeria.


Follow us for Breaking News and Market Intelligence.
Tags: GasIEA
Aghogho Udi

Aghogho Udi

My name is Aghogho Udi, a writer, journalist, and researcher, deeply intrigued by the political economy of Nigeria and the broader African context. My focus lies in shedding light on the intricate connections between macroeconomics and politics, offering valuable insights that foster comprehension of Africa's prevailing economic landscape and the world in general.

Related Posts

Mele Kyari,
Energy

NNPCL partners A4E Energy to build 100mmscf/d gas distribution facility in Ajaokuta 

October 21, 2024
G7 Leaders
Business

FG eyes G7’s energy projects investment in Nigeria, others 

June 15, 2024
global clean energy
Energy

Africa to get only 2% of $2 trillion global clean energy investment in 2024- Report

June 6, 2024
Power crisis: FG accuses DisCos of refusing to take up power supply from TCN
Energy

FG targets 6500 megawatts power generation in six months 

March 12, 2024
Highest-paying sectors in Nigeria as of 2023
Economy

10 fastest growing sectors of the Nigerian economy in 2023 

February 22, 2024
10 stipulations of the EPSRA amendment Bill that create more hardship for Nigerians
Energy

Nigerians rely on generators for 40% electricity consumed as grid collapses 46 times in six years

January 25, 2024
Next Post
NBA

Group recommends sanctions against Nigerian lawyers 'attacking' Judiciary, outlines corruption report channels 

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank
Zenth Bank








DUNS

Recent News

  • Dealing Houses worry over CBN forbearance directive, reveals why the timing is inappropriate
  • Africa Re to celebrate retirement Of DMD/COO, Mr. Ken Aghoghovbia
  • Sovereign green bond offer records N91.42 billion, oversubscribed by 183% – DMO 

Follow us on social media:

Recent News

Dealing Houses worry over CBN forbearance directive, reveals why the timing is inappropriate

Dealing Houses worry over CBN forbearance directive, reveals why the timing is inappropriate

June 19, 2025
Africa Re to celebrate retirement Of DMD/COO, Mr. Ken Aghoghovbia

Africa Re to celebrate retirement Of DMD/COO, Mr. Ken Aghoghovbia

June 19, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics