Europe is asking for liquid gas – and in Pakistan the power is out

Bangkok, Mexico City, Cape Town Europe is struggling to find alternatives to Russian gas – and the lights are going out in emerging countries. In Bangladesh, in the middle of the summer heat, daily power cuts, often lasting for hours, dominate everyday life. By order of the authorities, shopping centers and markets have to close a few hours after dark in order to save energy. For weeks, the power plants have not had enough fuel to produce enough electricity for the country’s almost 170 million inhabitants.

The crisis is a direct consequence of the turbulence on the European energy markets: Russia’s reduced gas supplies have caused European demand for LNG delivered by ship to rise sharply. In emerging markets of the Global South, who are readys rely on LNG – liquefied natural gas – the gas tankers, on the other hand, have become rare. The local energy suppliers can no longer afford to bid in view of the price increase on the world market.