The leader of the coalition of gas-exporting countries said on Tuesday the group expects demand for the fuel to far outstrip supply until 2025 amid a global energy crisis sparked by the war in Ukraine.
Secretary General of the Gas Exporting Countries Forum Mohamed Hamel, of Algeria, said at the group’s meeting in Cairo that although investment was increasing in natural gas production the countries didn’t expect to have new sources of supply online for another three years.
We believe that this market tightness to be with us until probably 2025 or 2026 when the new projects that are being developed will come on-stream, he said in a press conference on Tuesday attended by energy ministers from some of the coalition’s members.
