![]() ![]() Mike Fulwood, senior research fellow at the Oxford Institute for Energy Studies, also warns in an interview of the implications that a proposal by EU authorities to impose a price ceiling could have on gas supplies in Europe, stressing that at best, it will be ineffectual, and at worst, could exacerbate the situation by deterring supply, undermining liquidity and posing a risk to financial markets.In this issue of GVG, Rystad Energy provides an insightful commentary on the prospects for extra gas supply over the coming years, and how much of those volumes can be expected to help ease the situation in Europe, which has seen its Russian pipeline supply drastically reduced.The value of Africa’s natural gas reserves, as a means to yield greater economic prosperity and lower emissions on that continent and internationally, must be recognised. The final text from the conference also contained a provision to expand low-emissions energy, ranging from nuclear and renewable power, but potentially also gas. ![]() The conference ended with countries reaching a breakthrough agreement on forming a loss and damage fund, to provide developing countries hit hard by the climate crisis with the support they need. This was one of the messages to come out of the COP27 last month, which took place for the first time on African soil since 2016.This has meant higher costs for people and businesses, closures of production, and energy shortages exacerbating a global cost of living crisis as well as a global food crisis. ![]() Supply investments fell behind demand growth, and the already out-of-balance energy markets could not withstand the shock of diminishing the volumes of the world’s key gas exporter. While the focus on the mission-critical goal of reaching net-zero was right and must continue, not enough attention has been paid to energy security and affordability.
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