The oil and gas crisis stemming from the Iran war has made energy security a central factor globally, officials and executives at Semafor World Economy said, though they diverged on whether that shift would benefit gas.
Fossil fuel prices have surged since the war began, driving debate over the instability associated with importing oil and gas against expanding renewables use.
The head of the International Energy Agency said recent crises undermined the idea of gas as affordable and reliable, adding that several fossil fuel importers would likely pause before adding new gas infrastructure.
The CEO of Baker Hughes, though, argued the crisis actually strengthened the case for a building of liquefied natural gas capacity globally, calling it a “destination fuel.”