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Global Energy Review 2026 Technology: Heat pumps
Global heat pump sales fell by about 2% in 2025. Sales in China and Japan were largely flat, while Europe saw a strong return of demand. Sales in the United States declined.In China, heat pump sales stayed broadly stable. Reversible air conditioners (used as primary heating equipment) make up about half the Chinese heat pump market, and while record-breaking sales of air conditioners supported strong demand in the first half the year, they fell sharply in the second half. Sales of air-to-water and hot water heat pumps, which make up the remainder of the market, remained…
- Key findings
- Global trends
- Oil
- Natural gas
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+ 9 pages
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Russia
Russia is the world’s second-largest producer of natural gas, behind the United States, and has the world’s largest gas reserves. Russia is the world’s largest gas exporter. In 2021 the country produced 762 bcm of natural gas, and exported approximately 210 bcm via pipeline.
- Overview
- Energy mix
- Emissions
- Electricity
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+ 5 pages
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The Middle East and Global Energy Markets
…Prices for certain oil products – notably diesel, jet fuel and liquefied petroleum gas (LPG), which have been particularly exposed to the disruption – remain elevated.Shipments of oil through the Strait increased sharply in early June, supported by ship-to-ship transfers in the Gulf of Oman. Yet our latest Oil Market Report, published on 17 June, notes that even if the new agreement holds, a full recovery in flows is unlikely to be immediate. Mines will need to be cleared from the main shipping lanes and supply chains will take time to normalise. Saudi Arabia and the United Arab Emirates…
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Niger
Access to electricity remains a challenge in Niger and the country is reliant on electricity imports for a significant share of its supply. The country is an oil resource centre and it is one of the ten-largest uranium resource-holders in the world.
- Overview
- Energy mix
- Emissions
- Electricity
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+ 5 pages
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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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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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+ 2 pages
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Dan Dorner
Head of the Strategic Initiatives Office. Dan Dorner took up his duties as Head of the Strategic Initiatives Office at the International Energy Agency in December 2022. Previously, he was Head of Secretariat for the Clean Energy Ministerial (CEM), a global forum tasked with accelerating clean energy transitions. Mr Dorner’s involvement with the IEA goes back more than a decade, having worked as a lead author for the Agency’s flagship World Energy Outlook report and serving as the Executive Director’s Sherpa to the United Nations. Over the years, he has also held a variety of positions in the British government, serving as the UK’s Head of International Energy and as a senior adviser and analyst at the Treasury Department.
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Global Critical Minerals Outlook 2025 Policy mechanisms for diversified mineral supplies
Increasing cost pressures in operations outside dominant producers pose risks to diversification and sustainability efforts Supply chains for key energy minerals are highly concentrated, creating strong incentives for policymakers to build more secure and resilient supply chains through greater diversification. This concentration is often underpinned by network efforts, lower costs, and, in many cases, by relatively energy- and emissions-intensive processes. Capital expenditures for mining and refining in regions outside the dominant player are typically 50% higher than those within the top producing country. These producers also often face higher all-in sustaining costs, making it difficult to remain profitable…
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Fossil Fuel Subsidies
…coal, these are based on the import parity price: the price of a product at the nearest international hub, adjusted for quality differences, if necessary, plus the cost of freight and insurance to the net importer, plus the cost of internal distribution and marketing and any value-added tax (VAT). VAT was added to the reference price where the tax is levied on final energy sales, as a proxy for the tax on economic activities levied across an economy. Other taxes, including excise duties, are not included in the reference price.For net exporters of oil, natural gas and coal…
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Global EV Policy Explorer
Key policies and measures that support the deployment of electric and zero-emission vehicles Explore key policies and measures for EV deployment This table highlights current as well as announced key policies and measures that support the deployment of electric vehicles (EVs) and zero-emission vehicles (ZEVs) by region and country. These policies and measures take a variety of forms, e.g. fuel economy standards, CO2 emissions standards, deployment roadmaps, and sales or stock targets and ambiti...
