Energy Crisis

Birol (IEA): World is in middle of first global energy crisis

fatih birol energy crisis

Photo: IEA

Published

July 13, 2022

Country

Comments

1

Share

Published:

July 13, 2022

Country:

Comments:

1

Share

The world is experiencing the first global energy crisis, and it is possible that the worst part is yet to come, warned Fatih Birol, executive director of the International Energy Agency (IEA).

Fatih Birol said at the Sydney Energy Summit that the world has never witnessed an energy crisis of such great depth and complexity and that perhaps it is yet to see its worst part.

He pointed out the world is in the middle of the first global energy crisis. As the main causes, Birol cited the mix of several factors, including geopolitics.

Since the beginning of the war in Russia, the entire energy sector is in a mess

The prices of oil, natural gas, coal, and electricity are skyrocketing, he said. The reason, in his words, is that Russia, the country that attacked Ukraine, is the largest exporter of oil and natural gas.

Birol pointed out the entire energy sector is in a mess since the beginning of the war in Ukraine, resulting in a global crisis.

This winter will be very, very difficult in Europe, which may have serious consequences for the global economy, Birol asserted.

Comments (1)
Sabel / July 14, 2022

I’m so sad about it.. 🤧🥺🥲🥹 I hope everything will be okay and back soon even if it’s broke at least they can start again.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

Serbia EPS no longer dependent on imports acting CEO Tomasevic

Serbia’s power utility EPS no longer dependent on imports, acting CEO claims

27 January 2023 - EPS is importing much less electricity this winter than last one and it is not dependent on imports, acting CEO Miroslav Tomašević said

Second unit of Krško nuclear power plant projected to come online in 2035

27 January 2023 - The second unit in the Krško nuclear power plant could be in operation in 2035, but project permits are still pending

Household solar power systems overload Cyprus electricity grid

Household solar power systems overload Cyprus electricity grid

27 January 2023 - The distribution and transmission system operators in Cyprus asked for a freeze in issuing licenses for small solar power installations for self-consumption

cwp montechevo solar montenegro

CWP enters Montenegrin renewables market with 400 MW solar project

26 January 2023 - The investment is valued at around EUR 360 million, while the development and construction of the project are planned in phases