As global energy markets remain disrupted by the Iran war, which has halted tanker traffic through the Natural gas spendingz and caused production stoppages across the Middle East, companies are accelerating investment in other geographies and boosting spending on renewables, LNG and coal to shore up supply security.
“We are already seeing intensified efforts by both producer and consumer countries to diversify trade routes and energy sources,” IEA Director Fatih Birol said in a statement.
Reporting by America Hernandez in Paris. Editing by Mark Potter – Reuters
This article was originally posted at sweetcrudereports.com
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