Saudi Press

Saudi Arabia and the world
Saturday, Sep 07, 2024

Energy boss warns of shortages next winter as China's consumption set to rise

Energy boss warns of shortages next winter as China's consumption set to rise

"It is not right to be relaxed, it is not right now to celebrate," says the head of the International Energy Agency, Fatih Birol.

Europe is "off the hook" on energy supplies this winter - but it has also got lucky, a senior official has said.

Fatih Birol, head of the International Energy Agency, has warned against complacency, saying there could easily be energy shortages next winter.

One of the principle reasons for that is the end of heavy COVID restrictions in China, leading to increased economic activity, and therefore a rise in gas consumption.

While an extra 23 billion cubic metres of liquefied natural gas (LNG) is expected to be produced this year, China could take 80% of it, Mr Birol said.

"Even though we have enough LNG import terminals, there may not be enough gas to import and therefore it will not be easy this coming winter for Europe," he commented.

Prices could be pushed up again - just as they were when Russia invaded Ukraine. The war will be a year old on Friday.

"It is not right to be relaxed, it is not right now to celebrate," Mr Birol commented.

He is asking countries that have decided to phase out nuclear energy to consider whether it is the right time to do so.

There could be shortages next winter, Mr Birol has warned

On a more positive note, Mr Birol said European governments had made many correct decisions as they sought to ensure their energy supplies.

Those include building more LNG terminals to replace pipeline deliveries of Russian gas.

But they also got lucky, with a mild winter dampening demand and economic weakness in China leading to the first drop in consumption there for 40 years.

"For this winter it is right to say that we are off the hook. If there are no last minute surprises, we should get through...maybe with some bruises here and there," Mr Birol said.

"But the question is, what happens next winter?"

Even with a renewed push to develop new gas fields, it could be years before they come online, he warned.

Klaus Mueller, head of the German agency which regulates gas and electricity markets, has also predicted possible gas shortages next winter, especially as Germany will now have to fill storage facilities without Russian pipeline gas.

"We can manage it but will have to really make a big effort," he told radio station Deutschlandfunk.
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Gaza War Marks Its 12th Month
Saudi Arabia Honors Cultural Pioneers Amidst Broader National Challenges
Jill Stein Criticizes US-Israel Ties, Pakistani Academic Defies Norms, and Tragedy Strikes British Tycoon: Today's Top Stories
Riyadh Mayoralty Inaugurates Second Nursery and Saudi Red Crescent's Air Ambulance Heroics Highlight Healthcare Advancements Amidst Regional Tensions
Iran's Missile Support to Russia Raises Global Tensions; Saudi Minister's Innovation Tour in Hong Kong Amid Middle Eastern Conflicts
Saudi Arabia Slashes Customs Fees and Introduces New Yacht Regulations under Vision 2030
Saudi Arabia Eyes Strategic Green Hydrogen Partnerships with Europe Amid Varied Global Crises
Libya Migrant Crisis and Global Tensions: From Deadly Shipwrecks to International Protests and Defense Initiatives
Gaza’s Children Face Grim Future as Conflict Halts Formal Education for Second Year
Escalating Ethnic Violence in Manipur Closes Schools; North Korea's Balloon Stunt Roils Seoul; Pope Calls for Peace in Papua New Guinea Amid Global Tensions
Tim Walz Advocates for Palestinian Rights Amidst Tensions in Gaza, Highlighting Humanitarian Concerns
Saudi Achievements in Cloud-Seeding and Mining Collaborations, Global Calls for Ceasefire, and Biden's Diplomatic Moves
Global Developments: UK Targets Smugglers, Ukraine Seeks Aid, and Thailand Welcomes Youngest PM
U.S. Probes Shooting of Turkish-American Activist by Israeli Forces; NATO Urges China to End Russia Support; Emergency Landing in Turkiye Amid Bomb Threat
Saudi Arabia to Host Groundbreaking Exhibition of Chinese Contemporary Art in Diriyah
Griffon Vultures Revive, New Sports Academy, and FinTech Booms: Saudi Arabia's Multifaceted Progress
Global Unrest: Elephants Rescued in Myanmar, NATO's Appeal to China, and Food Prices Fluctuate Amid Growing Crises
Toronto Film Festival Kicks Off Amid Protests, Tragedy Strikes Kenyan School, Saudi Real Estate Loans Surge, Philippines Ex-Mayor Faces Charges, China Halts International Adoptions, World's Largest Indoor Ski Resort Opens in Shanghai
Rare Eurasian Griffon Vulture Colonies Discovered in Saudi Reserve Amid Global Vulture Awareness Efforts
Israeli Withdrawal from Jenin, Pope Francis's Indonesian Visit, and Global Events Highlight a Turbulent Week
UK Bolsters Ukraine's Defense Amid Russian Attacks; US Commits Millions to Aid Haiti; Hunter Biden Faces Tax Evasion Charges; Trump Plans Antisemitism Crackdown and Federal Overhaul
Global AI Summit in Riyadh Highlighted by Commemorative Passport Stamp Amid Global Turmoil
Muvi Cinemas Launches Sensory-Friendly Sessions for Children with Autism in Saudi Arabia
Saudi Arabia's Vision 2030: Housing Success, Women's Achievements, and New Regulations Propel Kingdom to Economic Growth
Algeria Votes Amid Tebboune’s Expected Victory; UK Universities Seek Higher Tuition Fees; Egypt Holds Interest Rates Steady; IMF Praises Saudi Housing Program; OPEC+ Extends Oil Supply Cuts
Saudi Arabia’s NHC Dominates GCC Real Estate as UAE Celebrates First Nuclear Plant Amid Regional Tensions and OPEC+ Oil Cuts
NATO Backs Ukraine's Historic Offensive in Russia, Saudi Arabia's Fintech Boom, and Global Health and Political Updates
Saudi Arabia's Fintech Boom, Taif's WHO Milestone, and New Geological Museum Highlight Economic and Environmental Advances
From the Rubble in Gaza to European Leadership Shuffles: A Snapshot of Global Crises and Initiatives
Global Tensions Rise: Putin Blames West, U.S. Hostage Families Plea, and UK Suspends Arms to Israel Amid Legal Debates
Global Dynamics: Saudi-Russia US Prisoner Swap, Saudi Health Achievements, Rising Cultural Tourism, Arrests, and Worldwide Activism
Global News Roundup: Weinstein Charges Dropped, Macron Appoints Barnier, US-Russia Prisoner Swap, and Saudi Economic Surge
Mongolia Refuses to Arrest Putin Despite ICC Warrant
France Pilots Mobile Phone Ban in Schools
WHO-Led Study Finds No Link Between Mobile Phones and Brain Cancer
US Charges Hamas Leaders With Terrorism Over October 7 Attack on Israel
Hossein Shamkhani: The Rise of an Oil Tycoon
UK Suspends 30 Arms Export Licenses to Israel: Details and Implications
Biden Criticizes Netanyahu Over Hostage Crisis
Macklemore Cancels Dubai Show Over UAE’s Role in Sudan Conflict
Elon Musk Warns of US Bankruptcy Due to Government Overspending
Iranian President's Helicopter Crash Attributed to Bad Weather
Nvidia: From Gaming to Global Tech Dominance
Israeli Hostage Rescued in Complex Gaza Operation
Heist of the Century: $2.5 Billion Stolen in Iraq
Russia and Ukraine Exchange 115 Prisoners of War Each in UAE-Brokered Deal
Gen-Z Globe-Trotter Calls Egypt 'Most Annoying'
Hamas and Islamic Jihad Claim Responsibility for Tel Aviv Bomb Blast
Tsimane Tribe: Secrets to Health and Slow Ageing
Extensive Forest Fires Force Evacuations in Izmir, Turkey
×