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

Oct. 4, 2024 - Nairametrics

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. The agency forecasts that global gas demand will grow by more than 2.

5% this year, hitting a record 4,200 billion cubic metres. 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.

Disruption is global supply chain and increase in demand could increase gas prices which will affect electricity tariffs in Nigeria...