A European pivot away from Russian gas would create a huge demand-side boost to the global LNG market, but can supply respond? The EU has the regasification capacity to increase LNG imports by 60bn m3 a year, says the IEA, but its analysis suggests only 20bn m3 is practically possible. [Gas in Transition, Volume 2, Issue 3]
more on the top story which is energy. let s stay with the energy sector because there has been a worldwide squeeze on gas supplies over the past year and many of the same factors that are pushing up the price of oil are also impacting the broader energy sector. for more, here s our economics editor faisal islam. at the mouth of the river medway, the isle of grain in kent. 0nce nicknamed energy island, one of the best places to explain why we have an energy price shock and what can be done about it. you can get a sense of all the factors pushing up energy prices from this point, whether it s the tankers full of natural gas from around the world that enter the uk here and off load into our gas system, whether it s the lack of storage for that gas because it was shut down a few hundred miles up the coast here. also, we have some of the wind
one of the best places to explain why we have an energy price shock and what can be done about it. you can get a sense of all the factors pushing up energy prices from this point, whether it s the tankers full of natural gas from around the world that enter the uk here and off load into our gas system, whether it s the lack of storage for that gas because it was shut down a few hundred miles up the coast here. also, we have some of the wind turbines that are working quite well now, a good source of clean, green energy when the wind is blowing but can t always be relied on, or the electricity coming from the continent entering at this point. all of these factors combined are heading straight to the energy bills of households and businesses, pushing them to records within weeks. these days, north sea gas does not
that enter the uk here and off load into our gas system, whether it s the lack of storage for that gas because it was shut down a few hundred miles up the coast here. also, we have some of the wind turbines that are working quite well now, a good source of clean, green energy when the wind is blowing but can t always be relied on, or the electricity coming from the continent entering at this point. all of these factors combined are heading straight to the energy bills of households and businesses, pushing them to records within weeks. these days, north sea gas does not meet our energy needs. in two decades, the uk has gone from being a gas exporter to importing about half of its gas requirements. over the last month, we ve seen a record number of ships