The Iran war and the lack of LNG supply from the Middle East have upended forecasts of near-term natural gas demand and import costs. So far this year, economies in Europe and Asia have relied more on renewables and coal for power generation to offset reduced gas supplies procured at very high prices. This year’s crisis has prompted governments to rethink energy policies with energy security the top priority, again, after the 2022-2023 energy crisis. After the decline in global gas demand this year, due to prices at four-year highs, the obvious…
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