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How to Avoid Gas Shortages in the European Union in 2023
…should help reduce the size of this potential natural gas supply-demand gap in 2023. A recovery in nuclear and hydropower output from their decade-low levels in 2022 should also help narrow the gap. Despite all of this, the EU’s potential gas supply-demand gap could reach 27 billion cubic metres in 2023.This new report provides the IEA’s latest analysis of the extent of the EU's potential gas supply-demand gap in 2023 and sets out the practical actions that can close that gap while avoiding excessive strains for European consumers and for international markets…
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Is renewable energy capacity in the European Union making windfall profits from high wholesale prices?
Renewables 2022 This report forms a component of Chapter 4 of Renewables 2022 and addresses a key question in renewable energy markets. Russia’s invasion of Ukraine triggered a global energy crisis, leading to sharp increases in oil, natural gas and coal prices. As a result, electricity prices in Europe have risen drastically because natural gas-fuelled plants remain the price-setter in the wholesale market. Furthermore, high fossil fuel prices have resulted in windfall profits for some energy companies. In fact, the profits of major oil, gas, coal and refinery companies in the first half of 2022 more than…
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European Union 2020
…such as the creation of an internal energy market and enhancement of energy security and climate policies. The IEA provides a range of recommendations for the successful implementation of the European Green Deal in the coming years. The report also outlines opportunities for boosting shortand long-term actions for a resilient, sustainable and just recovery of the European economy. Executive summary Over the past five years, the European Union (EU) has made significant progress in completing the internal market for electricity and gas, promoting energy efficiency action, renewable energy deployment, greenhouse gas (GHG) emissions reductions and a stronger carbon price…
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Background note on the natural gas supply-demand balance of the European Union in 2023
…developed to inform the discussions at the Special IEA Ministerial on Gas Markets and Supply Security on 15 February 2023. It assesses the latest developments in European and global natural gas markets, taking into account the impacts of the energy crisis triggered by Russia’s invasion of Ukraine in 2022. The analysis examines the key factors affecting the natural gas supply-demand balance of the European Union – and the risks that could lead to a supply-demand gap emerging. And it highlights the measures that can reduce natural gas demand in a structural manner to mitigate the European Union’s…
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Northwest European Hydrogen Monitor 2025
…interconnected gas network that could be partially repurposed to facilitate the transmission and distribution of low-emissions hydrogen from production sites to demand centres.The development of the low-emissions hydrogen market in Northwest Europe could gradually scale up in the short- to medium-term. Northwest European countries now have ambition to develop up to 30 to 35 gigawatts (GW) of electrolyser capacity by 2030. However, most low-emissions hydrogen projects are currently in the early stages of development. Their success will depend largely on supportive policies and regulatory frameworks. The cost-efficient development of low-emissions hydrogen markets also necessitates…
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Northwest European Hydrogen Monitor 2024
…half of Europe’s total hydrogen demand, and it has vast and untapped renewable energy and carbon storage potential in the North Sea. It also has a well-developed, interconnected gas network which could be partially repurposed to facilitate the transmission and distribution of low-emissions hydrogen from production sites to demand centres.The development of low-emissions hydrogen in Northwest Europe could gradually scale up in the short- to medium-term. Northwest European countries now have the ambition to develop up to 30 to 40 gigawatts (GW) of electrolyser capacity by 2030. However, most low-emissions hydrogen projects are…
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Northwest European Hydrogen Monitor 2022
…untapped renewable energy potential in the North Sea. It also has a well-developed, interconnected gas network which could be partially repurposed to facilitate the transmission and distribution of renewable and low-emission hydrogen from production sites to demand centres.The development of renewable and low-emission hydrogen in Northwest Europe is expected to gradually scale up in the short- to medium-term to reach a low-emission hydrogen production capacity target of over 30 GW by 2030. Most of the low-emission hydrogen projects are currently in the early stages of development. Their success will depend to a large…
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Latin America Energy Outlook 2023
World Energy Outlook Special Report Latin America and the Caribbean is a region that stands out in the global energy sector. It boasts extraordinary natural resources – both fossil fuels and renewable energy – and a significant share of the world’s critical minerals. It also has a history of ambitious policy making in pursuit of stronger energy security and greater sustainability that has delivered one of the cleanest electricity mixes in the world. As the region emerges from a period of sluggish economic growth, countries in Latin America and the Caribbean now stand to leverage these resources to revitalise their economies…
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Latin America Energy Profile
The Latin America Energy Outlook, the International Energy Agency’s first in-depth and comprehensive assessment of Latin America and the Caribbean, builds on decades of collaboration with partners. In support of the region's energy goals, the report explores the opportunities and challenges that lie ahead. It provides insights on the ways in which the outlook for the region and the biggest global energy trends are deeply intertwined – as well as recommendations on policies that could allow Latin America and the Caribbean to take full advantage of its great potential.
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A 10-Point Plan to Reduce the European Union’s Reliance on Russian Natural Gas
…is at the heart of the solution, but even very rapid deployment will take time to make a major dent in demand for imported gas. The faster EU policy makers seek to move away from Russian gas supplies, the greater the potential implications in terms of economic costs and/or near-term emissions. Circumstances also vary widely across the EU, depending on geography and supply arrangements.Reducing reliance on Russian gas will not be simple, requiring a concerted and sustained policy effort across multiple sectors, alongside strong international dialogue on energy markets and security. There are multiple links between Europe…
