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Gas Market Report, Q1-2026 Executive summary
…the second half of 2025, which gradually eased market conditions starting from July. TTF and Asian spot LNG prices fell 14% and 17% respectively in H2 2025 compared with the same period in 2024. The correlation between European and Asian benchmark prices rose to a new all-time high of 0.955 in 2025. This reflects the increasingly interconnected nature of regional markets amid the growing share of destination-flexible LNG supplies. Macroeconomic uncertainty and tighter supply in the first half of 2025 weighed on global gas demand growth Following a relatively strong increase in 2024, natural gas demand growth…
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Universal Access to Clean Cooking in Africa Clean cooking: State of play and recent progress
…making 2024 a turning point. The Summit resulted in USD 2.2 billion in public and private sector commitments, alongside pledges by twelve African governments to implement new clean cooking policies. Based on tracking by the IEA, USD 470 million has been disbursed against the commitments as of the end of June 2025. This exceeds the annualised disbursements needed to fulfil these commitments by 2030. Eight of the twelve countries that made pledges at the IEA Summit implemented new clean cooking policies since 2024, with Tanzania and Kenya demonstrating the largest increase in policy coverage since 2024. Amongst the African population that…
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Energy Efficiency 2024 Does a heat pump work in a house with poor insulation?
…greatest benefits. To offer the same level of comfort, a well-insulated home also requires a smaller heat pump than a poorly insulated house, which can be cheaper to buy as well as to run. However, new IEA analysis of heating systems finds that even in poorly insulated homes, heat pumps provide energy savings compared to gas boilers, as the efficiency gains are so significant. Shifting from a 92% highly efficient gas boiler (minimum performance according to the current UK regulation) to a high efficiency air- or ground-source heat pump, using the United Kingdom as an example, results in…
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Korea 2025 Executive summary
…advises the government on targets and policies, and reviews progress on mitigation and adaptation each year. In 2022, the government placed an emphasis on energy security and announced the introduction of nuclear power and other low-carbon energy sources. In 2025, a new organisation, the Ministry of Climate, Energy and Environment, was established underscoring the government’s commitment to a renewable energy–centred transition and comprehensive decarbonisation across all sectors.Korea sets out many of its climate and energy policy objectives in strategic plans, which are updated on a cyclical basis. As much of Korea’s climate and energy policy…
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Global EV Outlook 2025 Outlook for electric mobility
Overview In this part of the report, we focus on the outlook for electric mobility in road transport over the period to 2030. A scenario-based approach is used to explore the prospects for electric mobility, based on recent market trends, policy drivers and technology developments. The purpose of scenario projections is to assess a plausible future for global electric vehicle (EV) markets and the potential implications. The scenario projections are not intended as predictions about the future. Rather, they aim to provide insights to inform decision-making by governments, companies and other stakeholders about the future of EVs. In…
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Global Energy Review 2026 Technology: Battery storage
…today. In 2025, 108 GW of new battery storage capacity was deployed worldwide, 40% more than in 2024. Installed capacity is now eleven times higher than in 2021. Lithium‑iron phosphate (LFP) batteries now account for around 90% of deployments; while less energy‑dense than rival chemistries commonly used in EVs, LFP batteries are typically cheaper and better suited to more frequent cycling. Just five years ago, the market share of LFP batteries in deployments was well below 50%. Around 80% of new battery capacity in 2025 was utility‑scale. The remainder was behind-the-meter capacity installed by commercial and residential consumers…
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- Global trends
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Energy Technology Perspectives 2026 Energy technology manufacturing and trade
Recent trends Global investment in manufacturing capacity for six clean energy technologies – solar photovoltaic (PV), wind, batteries, electric vehicles (EVs), electrolysers and heat pumps – dropped below USD 200 billion in 2024, down from nearly USD 220 billion in 2023. This downwards trend is estimated to have continued in 2025, mainly due to weaker solar PV and wind manufacturing investment in China. The United States and the European Union are estimated to have accounted for around 30% of global manufacturing investment combined in 2025, up from 15% in 2023, marginally increasing global supply chain diversification. After dipping in 2024, global trade in clean energy technologies recovered in…
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Global Energy Review 2026 Technology: Heat pumps
…As of 2025, all heat pumps manufactured in the United States had to use A2L refrigerants, which may have boosted sales in 2024 as manufacturers rushed older models to the market. At the same time, shortages of refrigerants contributed to lower sales in 2025. A slowdown in new housing construction is also likely to have contributed to the decline. Even so, heat pumps still outsold gas boilers for the fourth year in a row.In Japan, sales remained similar to 2024 levels. While absolute sales of heat pump water heaters did not increase, the market share relative to gas water…
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Global Energy Review 2025 Global trends
Energy demand accelerates, with electricity leading the way Different elements of the world’s energy system saw very different rates of growth in 2024, reflecting both the impact of short-term factors and deeper structural trends. Global energy demand grew by 2.2% in 2024, a notably faster rate than the annual average of 1.3% seen between 2013 and 2023. This uptick was partly due to the effect of extreme weather, which we estimate added 0.3 percentage points to the 2.2% growth. Despite this, energy demand grew more slowly than the global economy, which expanded by 3…
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China’s Official Energy Finance in Emerging and Developing Economies Case 1. Uzbekistan 1-GW Solar PV Project
…EPC projects, the company has, over the past decade, shifted towards an integrated “EPC + own + operate” model, particularly for renewables. This strategic shift aligns with China’s dual-carbon goals, its pledge to stop building new coal plants overseas and the growing demand for invest-and-operate models in EMDE markets. In February 2023, CEEC signed a memorandum of understanding with the Uzbekistan Energy Ministry and committed to developing a total of 2-GW of solar power in Uzbekistan. As part of its commitment, a 1-GW solar photovoltaic (PV) complex project, consisting of two 500-MW solar farms, was…
