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Beniamin Strzelecki
Global Focal Point.
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Josephine Tweneboah Koduah
Former Energy Analyst.
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Global Hydrogen Review 2026 Trade and infrastructure
Trade remains a key driver of low-emissions hydrogen projects, and would underpin over 40% of announced volumes by 2030 if all projects materialise. Less than 8% of this, around 1 Mtpa H₂-eq (hydrogen equivalent), comes from projects that are operational, in construction, or have committed investments, compared with around 16% across the overall project pipeline.First shipments of low-emissions hydrogen are taking place, enabling trials of logistics and certification approaches. Long-term bilateral contracts dominate, particularly for ammonia and ammonia-derived fertilisers, while hot briquetted iron (HBI) is gaining prominence.Announced hydrogen pipeline projects, including new and repurposed natural…
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Sheila Oparaocha
Director.
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Lithuania 2025 Executive summary
Energy independence is the key principle guiding Lithuania’s energy strategy. Lithuania moved with pace and determination to end its reliance on energy imports from the Russian Federation (hereafter, “Russia”). Thanks to strategic infrastructure investments, Lithuania is an important regional energy hub, and with the recently completed electricity grid synchronisation with the Continental European Synchronous Area (CESA), the Baltic states have successfully disconnected from the Russian-controlled system. While these are important achievements, Lithuania’s final energy consumption remains highly reliant on imported fossil fuels, notably in transport, and a significant share of electricity demand is met by imports. This…
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Kgosientsho Ramokgopa
Minister of Electricity and Energy.
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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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Coal 2025 Prices and costs
Prices Coal prices averaging lower in 2025 than in previous years After unprecedented prices in 2021 and 2022 amid the energy crisis, coal prices continued to be higher than the pre-Covid levels throughout 2023 and 2024. Prices for different coal qualities generally move in tandem, as partial substitution is possible. Thermal coal is mainly consumed in power generation and in this section is classified into low-CV (CV below 4 200 kcal/kg), mid-CV (CV between 4 200 kcal/kg and 5 700 kcal/kg) and high-CV (CV above 5 700 kcal/kg) categories. In some cases, direct substitution between grades is feasible, and blending…
- Executive summary
- Demand
- Supply
- Trade
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The Implications of Oil and Gas Field Decline Rates Executive summary
Discussions on the future of oil and gas often overemphasise demand drivers and underappreciate supply drivers Debate over the future of oil and natural gas tends to focus on the outlook for demand, with much less consideration given to how the supply picture could develop. This asymmetry is misplaced and a thorough understanding of the rate at which production from existing oil and gas fields declines over time is more important than ever. The International Energy Agency (IEA) has long examined this issue. Decline rates – the annual rate at which production declines from an existing oil or gas field – underpin…
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Gas Market Lessons from the 2022-2023 Energy Crisis Anatomy of a natural gas crisis
Sudden and drastic reduction in Russian pipeline gas deliveries to Europe In the run-up to the gas supply shock, Russian natural gas (pipeline and LNG combined) accounted for a growing share of European gas supply. Prior to 2010, Russian supply made up a relatively steady 30% of the European Union’s gas supply. However, the combination of plateauing demand and rapid decline in EU domestic production, which started in the early 2010s (linked to the decision to phase out the historical Groningen gas field in the Netherlands), led to growing dependency on gas imports across the European Union. The…