Natural gas demand in Europe will decrease due to increasing hydrogen consumption. This was reported by the Spanish publication La Repubblica, citing the head of the International Energy Agency, Fatih Birol.
Birol noted that gas supply in the world will increase rapidly after 2025, and the demand for hydrogen will increase in Europe. Therefore, the construction of new gas infrastructure now needs to be carefully considered.
The IEA chief also warned of the risk of a sharp rise in oil prices if the conflict in the Middle East escalates. According to him, one-third of the world’s oil comes from there, and any interruption in supply will hit Europe hard.
Birol believes that oil consumption will peak after 2030 due to the transition to electric vehicles and the slowdown in the Chinese economy. The IEA president called on energy companies to more actively switch to “green” energy sources.
He also expressed hope for the success of the UN climate conference in Dubai in November. According to Birol, the world needs to make every effort to reduce CO2 emissions and prevent temperatures from rising above 1.5 degrees.
Previously at IEA statedIt is stated that the oil price may rise above $100.
Previously IEA guess World oil shortage.