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David Malpass
President of the World Bank Group.
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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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World Energy Investment 2025 United States
Energy investment policies in the United States reflect its prioritisation of energy security Energy investment in the United States reflects its prioritisation of energy security, with a subsequent strategic push to establish a presence in emerging value chains and to supply international markets. Since becoming a net energy exporter in 2019, a remarkable turnaround from its high previous reliance on imports, the country has continued to expand its global energy role. In 2024 it was the world’s largest producer of oil and gas (20% of global output), as well as a major investor (25% of total investment). This growth…
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Edwin de Palma
Minister of Mines 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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Chris Bowen
Minister for Climate Change and Energy.
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Josephine Tweneboah Koduah
Former Energy Analyst.
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Susannah Fitzgerald
Governance Officer, Natural Resource Governance Institute.
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The State of Energy Innovation 2026 Executive summary
Successful energy innovations can have outsize economic and social outcomes, impacting industrial competitiveness, trade, environmental health, infrastructure investment and security. The second edition of the State of Energy Innovation turns the spotlight on the technologies, policies and funders at the forefront of this process. Today, the global markets for energy technologies such as batteries, transformers, turbines, motors and heat exchangers are worth trillions of dollars. With spending on energy representing as much as 10% of global GDP, innovation that reduces energy supply costs can transform a country’s comparative advantage. As a result, the energy sector is innovation-intensive: one…
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Luca Lo Re
International Climate and Energy Analyst. Luca Lo Re leads the IEA work in the OECD/IEA Climate Change Expert Group. With OECD colleagues, he produces papers to enhance the understanding of technical issues in international climate change negotiations and Paris Agreement implementation. In particular, his works focuses on international carbon markets (Art. 6 of the Paris Agreement). He also leads the organisation of the annual IEA-IETA-EPRI GHG Emissions Trading Workshop, and supports various works of the Agency related to Net Zero.
