Europe's energy crisis is coming for the rest of the world, too

Millions around the globe will feel the impact of soaring natural gas prices this winter

Natural gas prices have risen sharply around the globe in recent months. That has been due to a combination of factors. (Photo: Reuters)
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In Asia, importers of liquefied natural gas are paying record prices for this time of year to secure supplies, with some starting to snap up dirtier fuels such as coal and heating oil in case they don’t obtain enough. (Photo: Reuters)

Bloomberg
This winter, the world will be fighting over something that’s invisible, yet rarely so vital—and in alarmingly shorter supply.
Nations are more reliant than ever on natural gas to heat homes and power industries amid efforts to quit coal and increase the use of cleaner energy sources. But there isn’t enough gas to fuel the post-pandemic recovery and refill depleted stocks before the cold months.

Countries are trying to outbid one another for supplies as exporters such as Russia move to keep more natural gas home. The crunch will get a lot worse when temperatures drop. The crisis in Europe

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First Published: Sep 28 2021 | 2:34 AM IST

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