Gas crisis points to mistakes in energy transition: OPEC SG

MOSCOW (RIA Novosti): The current global gas crisis suggests that the energy transition is going wrong, said OPEC Secretary General Mohammed Barkindo .
“I think the regional gas crisis that we see today cannot be called a regional gas crisis, because it turned into a global gas crisis – not only in the United States , but also in Europe , and now also in Asia . the energy transition is not taking place properly – its message is distorted, “he said during the Energy Intelligence forum.
He added that it seems that facts and science are sometimes deliberately misrepresented, leading to such consequences. Barkindo quoted Russian President Vladimir Putin as saying that “hysteria” in the energy market interferes with the discussion. Putin on Tuesday at a meeting with members of the Cabinet of Ministers noted that in Europe there is hysteria and confusion in the hydrocarbon market and it is necessary to smoothly switch to alternative energy sources.
Gas prices in Europe have risen sharply in recent months. Back in early August, the price of the nearest futures on the Dutch TTF index was about $ 515 per thousand cubic meters, and on Wednesday it already exceeded $ 1900, but then began to roll back sharply. Several European countries have offered to investigate the functioning of the European gas market amid rising energy prices.
Barkindo also said that the volatility of prices in the oil market has nothing to do with the actions of OPEC + and is determined by external factors. On the contrary, the OPEC + alliance has demonstrated its commitment to a sustainable oil market through its actions.
The price of Brent oil on Tuesday reached a record since the beginning of October 2018 at $ 83 per barrel, but on Wednesday it is quoted at around $ 81 per barrel.