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Sheltering From Oil Shocks Cooking fuels
LPG demand accounts for around 10% of global oil demand and is used by many households for cooking. The conflict has caused major disruptions to LPG supply chains. With natural gas processing operations halted in parts of the region and flows through the Strait of Hormuz having come to a standstill, LPG supplies for cooking use have been severely curtailed, both locally and at export destinations. Next to measures to free up LPG capacity from other uses, such as in transport or industry, to prioritise domestic use, there are also actions to directly reduce cooking fuel demand. 9. Where possible…
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Stepping Up the Value Chain in Africa Executive summary
Africa is endowed with vast energy resources – fossil fuels, but also solar, wind, hydro, and geothermal – and yet energy supply remains limited: Around 600 million people on the continent lack reliable access to electricity. This energy gap constrains economic growth and industrial potential, particularly in rural areas where agriculture remains the dominant sector in the economy. As African economies grow and urbanise, the demand for energy-intensive industries and infrastructure is rising. Strategic investments in sustainable industrialisation can create a virtuous cycle that expands energy access and drives productivity, which in turn can attract more investment.Market opportunities already exist. Globally…
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Electricity Market Design Executive summary
Electricity systems are changing fast, and market design must evolve with them Electricity systems are undergoing rapid structural change, increasing the need for market frameworks that keep pace with evolving operational and investment requirements and possibilities. Electricity is central to modern economies, and its role is expanding as consumption patterns shift, digitalisation accelerates, energy systems decentralise, and variable resources grow. Across major regions, these trends are increasing the complexity of real-time operations and reshaping investment dynamics. Short-term and seasonal flexibility needs are projected to grow faster than demand over the next decade, while electrification in many sectors is…
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Gas Market Lessons from the 2022-2023 Energy Crisis Conclusion and lessons learned
Market environment is structurally and geopolitically more fragile One of the primary and most fundamental consequences of the energy crisis is the shift into a structurally more fragile natural gas market environment, compounded by geopolitical uncertainty. The drastic reduction in Russian pipeline flows to Europe also represented a loss of traded gas volumes in the global market. Concurrently, this drove an equally significant reduction in the availability of swing production capacity that had previously provided a degree of price-responsive supply modulation to both the European and global markets. In turn, this led to an increased reliance on LNG trade…
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Electricity Mid-Year Update 2025 Demand: Global electricity use to grow strongly in 2025 and 2026
Global electricity demand is forecast to increase by an average annual 3.3% in 2025 and by 3.7% in 2026, a moderation from 4.4% in 2024 but still some of the highest growth rates observed over the last decade. This is a slight downward revision from our previous forecast in February 2025 of 4% growth for this year and 3.8% in 2026. The change is partly due to the IMF's downgrade of the global GDP growth outlook compared with its January 2025 update amid elevated uncertainty surrounding trade tariffs and economic prospects. Despite these downside risks…
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Global Hydrogen Review 2025 Southeast Asia
Highlights Hydrogen demand in Southeast Asia reached 4 Mt in 2024, almost 4% of the global total. Hydrogen production accounted for about 8% of the regional gas supply and 1% of regional CO2 emissions. Indonesia represents over a third of regional demand, followed by Malaysia (22%), Viet Nam (15%) and Singapore (12%). Nearly half of all demand is for ammonia, of which two-thirds comes from Indonesia alone. Refining accounts for a third of demand, with 40% located in Singapore; methanol represents the remaining 20%, with 69% in Malaysia. The region currently exports ammonia (15% of production) and imports methanol.Indonesia, Lao…
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Electricity Mid-Year Update 2025 Executive summary
Global electricity demand on course to expand robustly in 2025 and 2026 despite economic headwinds Global power demand is expected to rise much faster over the forecast 2025‑2026 period than it did during the past decade. While slower than the 4.4% surge in 2024, growth forecasts of 3.3% for 2025 and 3.7% for 2026 remain among the highest rates observed in the past decade and well above the 2015-2023 average of 2.6%. Despite a slowdown in economic activity, which has weighed on global electricity use so far in 2025, heatwaves continue to add to demand…
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Pascal Canfin
Chair of the Environment Committee of the European Parliament.
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The Future of Electricity in the Middle East and North Africa Executive summary
A cornerstone of global energy supply and, increasingly, demand The Middle East and North Africa (MENA) region is at a pivotal moment in its energy journey. The region has long been a cornerstone of the global energy system. In 2024, it supplied over 30% of the world’s oil and nearly 20% of its natural gas. At the same time, it is emerging as a major centre of electricity demand growth, driven by a rapidly expanding population, urbanisation, rising living standards, and accelerating climate pressures. Between 2000 and 2024, electricity demand tripled – increasing by more than 1 000 terawatt-hours (TWh…
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Energy Technology Perspectives 2026 Deployment of clean energy technologies, materials and fuels
Outlook Many clean energy technologies are increasingly cost-competitive and growing strongly. Their aggregate market value has grown 20% on average per year since 2015 to reach nearly USD 1.2 trillion. Some 80% of global solar PV and wind generation now occurs at lower levelised costs than for coal or gas. Battery prices have dropped 75% since 2015, pushing electric car sales to around 25% share in 2025. Deployment increases in all IEA scenarios: in the Current Policies Scenario (CPS), their global market value nearly doubles to around USD 2 trillion in 2035, greater than the oil market in…
