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Gas Market Lessons from the 2022-2023 Energy Crisis Introduction
Over the course of 2022 and 2023, the largest natural gas supply shock in history unfolded, developing from seemingly regional dynamics into a global shockwave in gas and wider energy markets. The crisis has yet to be entirely resolved in the 3 years that have since passed. However, the post-crisis gas market paradigm has started to emerge, making it possible to draw lessons from the most acute phase of the crisis that can be transposed from one region or market to another, or that can be achieved through collective action across the wider gas market. While gas dependency can…
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Renewables 2021 Renewable electricity
Forecast summary Renewable capacity additions are set to grow faster than ever in the next five years, but the expansion trend is not on track to meet the IEA Net Zero by 2050 Scenario Annual additions to global renewable electricity capacity are expected to average around 305 GW per year between 2021 and 2026 in the IEA main case forecast. This implies an acceleration of almost 60% compared to renewables’ expansion over the last five years. Continuous policy support in more than 130 countries, ambitious net zero goals announced by nations accounting for almost 90% of global GDP, and improving competitiveness…
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Angola
Angola is set to become the largest producer of crude oil in Southern Africa, yet has also set the foundation for the sustainable development of renewables, through investments and supportive measures. Angola has particularly strong hydropower generation potential that remains underutilised.
- Overview
- Energy mix
- Emissions
- Electricity
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+ 5 pages
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Global EV Outlook 2026 Electric vehicle batteries
Electric vehicle battery deployment Electric vehicle battery deployment grew by almost 30% in 2025 Electric vehicles (EVs) remained the primary source of global battery deployment, accounting for more than 70% of the total in 2025, slightly down from almost 80% in 2024. In 2025, EV battery deployment reached 1.2 TWh, an increase of almost 30% compared to 2024, and more than 7 times greater than in 2020. Light‑duty vehicles remained the dominant segment, representing more than 85% of the 2025 EV battery deployment. However, the fastest growth came from electric trucks, for which battery demand more than doubled – largely thanks…
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Natural Gas
The coming LNG wave is set to profoundly transform the global gas market
Global gas markets, which have been tight and volatile for several years, are set to undergo major changes by the end of this decade. The unfolding coming wave of liquefied natural gas (LNG) production capacity is set to rebalance the global gas market, enhance energy supply security and improve the affordability of natural gas.
About 300 billion cubic metres (bcm) per year of LNG export capacity – a record – is set to be added by 2030, primarily supported by liquefaction capacity additions in the United States and Qatar…
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Global Energy and Climate Model Announced Pledges Scenario (APS)
The 2025 edition of the World Energy Outlook (WEO) does not include the Announced Pledges Scenario. Our assessment of the new round of NDCs due this year, generally the period to 2035, will follow once there is a more complete picture of these pledges.The Announced Pledges Scenario (APS), introduced in 2021, illustrates the extent to which announced ambitions and targets can deliver the emissions reductions needed to achieve net zero emissions by 2050. In the WEO-2024, the APS includes all recent major national announcements as of the end of August 2024, both 2030 targets and longer-term net zero…
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Gas Market Lessons from the 2022-2023 Energy Crisis Impact analysis of the two largest LNG import regions
Europe BackgroundNatural gas is a central element in Europe’s energy landscape, accounting for about one-quarter of primary energy supply and playing a role across virtually all demand sectors. In the run-up to the crisis, the European continent could count on a multitude of gas supply sources: domestic production, pipeline imports and LNG imports. This diversity of sources fostered gas-on-gas competition and a growing reliance on spot-traded supply, notably in LNG. From 2015 to 2021, the share of short-term and spot-traded LNG imports grew from 10% to about 40% – a share that kept…
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Nigeria
Nigeria is the largest economy and the richest oil resource centre of the African continent. The country also remains the largest gas consumer and producer of West Africa. Notable power sector reforms are underway in Nigeria, including plans for electrification.
- Overview
- Energy mix
- Emissions
- Electricity
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+ 5 pages
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Carbon Capture Utilisation and Storage
Co-ordinate and promote the development of CCUS hubs and shared networks
CCUS hubs can spread infrastructure costs between emitters and generate economies of scale to reach emitters that are smaller-scale or further away from identified CO2 storage sites. Governments can have a key role in the development of hubs by: Co-ordinating hub development through competitive solicitations that encourage collaboration across multiple sectors (e.g. industrial emitters, power plants). Efforts are already underway in Canada, the United States, and the United Kingdom. Ensuring legal and regulatory frameworks are designed to account for shared infrastructure networks that allow for non-discriminatory open access…
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Iraq
Iraq holds abundant oil and gas resources and has strong solar PV potential. Its production to 2030 is set to be third largest contributor to global oil supply. By the same year, the government expects that renewable capacity will amount for 5% of the country’s total system capacity.
- Overview
- Energy mix
- Emissions
- Electricity
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+ 5 pages
![Iraq Flag]()
