OPEC chief says renewable energy shift increasing gas prices
9/21/2021
Gas prices are rising due to the attempted shift to renewable energy sources, OPEC Secretary General Mohammed Barkindo told CNBC.
"I have talked about a new premium that is emerging in the energy markets that I term the transition premium," Barkindo told the financial news network at the Gastech conference in Dubai.
Gas prices in Europe have surged as much as 280% so far this year and are threatening to push up winter fuel bills, hurt consumption, and exacerbate a near-term spike in inflation.
Environmental groups and governments around the world have been advocating turning away from fossil fuel and using cleaner forms of energy to cut carbon emissions.
(Reporting by Sahil Shaw in Bengaluru; editing by Uttaresh.V)
Sign up to Receive Our Newsletter
- Freeport LNG export plant in Texas to take in more natgas after unit shut on Monday
- LNG cool-down vessel arrives at ExxonMobil's Golden Pass plant in Texas
- Freeport LNG export plant in Texas reports shutdown of liquefaction train
- TotalEnergies and Mozambique announce the full restart of the $20-B Mozambique LNG project
- JGC celebrates handed over second production train to LNG Canada
Comments