Top Highlights

• The reasons behind Europe's C are far from straightforward and illustrate how complex and interconnected the global energy market is. Here are five key points to help explain some of the issues fueling the energy crisis.
• In its Global Gas Security Review, the International Energy Agency (IEA) says gas demand is likely to rebound by 3.6% across 2021. If left unchecked, by 2024 global gas consumption could have grown 7% higher than pre-pandemic levels.
• Although gas demand growth is expected to slow - despite a switch from coal to gas - the IEA says governments may need to legislate to ensure gas-related emissions growth does not become a problem. “More ambitious policies are needed to shift to a net-zero path,”
• The price of wholesale gas has caused several smaller energy providers in the UK market to collapse, and has halted production in some industries.
• Another very cold northern winter would put additional pressure on a gas system that is already stretched and struggling.

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