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G7 Calls For Gas Demand Reductions

NATURAL GAS

During the G7 Energy Ministers Meeting in Japan last weekend, the group has agreed to call for reducing gas consumption, apart from other measures, France’s energy minister, Agnes Pannier-Runacher said.

  • "The G7 countries have agreed that the first response to the energy crisis must be to reduce energy and gas consumption… For the first time ever, the G7 said that we must accelerate the phasing out of all unabated fossil fuels”,Pannier-Runacher said.
  • "The imperatives on gas supply are only short-term. This implicitly means that we cannot invest in the exploration of new gas capacity," Pannier-Runacher said.
  • In contrast, the US Assistant Energy Secretary Andrew Light said: “The world absolutely needs new gas investment while Russia's war in Ukraine keeps supply risks high.”
Energy BulletsCommodities
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