The monthly average of the spot price of natural gas registered at the Henry Center in the US market decreased during September 2022 to $7.88 per million British thermal units, according to the monthly bulletin on petroleum developments in global markets. .
The report issued by the Organization of Arab Petroleum Exporting Countries added, “OAPEC” The average price of importing liquefied natural gas in Japan increased during August 2022 by $2.14 per million British thermal units, to reach $19.80 per million British thermal units, and the average price of importing liquefied natural gas in South Korea increased by $3.07 per million British thermal units, to reach 22.97 dollars per million British thermal units, and the average price of importing liquefied natural gas in Taiwan increased by 7.66 dollars per million British thermal units, to reach 24.53 dollars per million British thermal units..
The report added that the average price of liquefied natural gas imports in China increased by $3.5 per million British thermal units, to reach $16.95 per million British thermal units..
The report stated that the Arab countries’ exports of liquefied natural gas to Japan, South Korea, China and Taiwan amounted to about 3.649 million tons during August 2022, accounting for a share of 22.2% of the total..
Dr. Mamdouh Salama, a global oil and energy expert, said that the warning against adopting short solutions to address the energy crisis is due to the wrong policies that the European Union used to accelerate the transition from fossil energy, that is, oil, gas and coal to renewable energy, which led to a major oil crisis in 2021 and this continued. crisis so far.
Mamdouh Salama added, during a telephone interview with the “Cairo News” screen: “The crisis in Ukraine has turned the European crisis into a global crisis, and has shifted the direction of energy resources from west to east, that is, to China and the Pacific Basin, but any new energy policy or strategy in the world must take into account Keep in mind that there will be no time for oil and gas to be used throughout the twenty-first century and perhaps beyond that».
He continued: «Likewise, renewable energy alone cannot meet the world’s demand for electricity, and therefore it needs to pump large quantities of gas, nuclear energy and coal to support it. We live in an era in which competition is taking place between all types of energy that the world needs, and renewable energy must compete. With fossil energy, nuclear energy, water energy and others».