IEA head warns of tighter energy supply next winter

IEA head warns of tighter energy supply next winter

International Energy Agency (IEA) head Fatih Birol has warned of possible energy shortages next winter as relatively little new liquefied natural gas (LNG) is coming to the market while China’s consumption set to rise this year. European governments made many correct decisions over the last year to ensure energy supply, such as building more LNG terminals to replace pipeline deliveries of Russian gas, Birol told Reuters on the sidelines of the annual Munich Security Conference on Saturday.

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But they also got lucky, he said, with a mild winter dampening demand while economic weakness in China led to the first drop in consumption there for 40 years. “For this winter it is right to say that we are off the hook. If there are no last-minute surprises, we should get through...maybe with some bruises here and there,” said Birol. “But the question is...what happens next winter?” An additional 23