Gergely Molnar, IEA LNG analyst
IEA’s Molnar says LNG is more back-up supply than transition fuel
Russia’s invasion of Ukraine has forever changed gas markets and prompted renewed interest in storage and previously unattractive developments, but the long-term future of the fuel is doubtful
The shock to European gas markets caused by the war in Ukraine has reverberated all around the world, raising issues about global supply and the emergence of Europe as a premium LNG market, and planting seeds of doubt in Asia around its LNG push. There are also far-reaching consequences for security of supply infrastructure and storage as well as long-term thinking around the energy transition. Petroleum Economist dives deep into the issues with this exclusive interview with Gergely Molnar, the IEA’s top LNG analyst. How has Europe's new gas strategy changed the global LNG market? Molnar: When we look back to 2022, we see the European gas market suffered a major supply shock resulting from
Also in this section
4 March 2026
The continent’s inventories were already depleted before conflict erupted in the Middle East, causing prices to spike ahead of the crucial summer refilling season
4 March 2026
The US president has repeatedly promised to lower gasoline prices, but this ambition conflicts with his parallel aim to increase drilling and could be upended by his war against Iran
4 March 2026
With the Strait of Hormuz effectively closed following US-Israel strikes and Iran’s retaliatory escalation, Fujairah has become the region’s critical pressure release valve—and is now under serious threat
3 March 2026
The killing of Iran’s Supreme Leader Ayatollah Khamenei in US–Israeli strikes marks the most serious escalation in the region in decades and a bigger potential threat to the oil market than the start of the Russia-Ukraine crisis
