OPEC chief says gas crisis indicates errors in energy transition

The current global gas crisis suggests that the energy transition is going wrong, Mohammad Barkindo, OPEC Secretary General said, Report informs, citing Prime.

“I think the gas crisis that we see today cannot be called a regional gas crisis, because it has turned into a global gas crisis - not only in the United States, but also in Europe, and now also in Asia. It confirmed our firm belief that the energy transition does not occur properly - its message is distorted," he told an Energy Intelligence forum.

He added that the impression is that facts and science are sometimes deliberately misrepresented, leading to such consequences. Barkindo quoted Russian President Vladimir Putin as saying that "hysterics" in the energy market interferes with discussions. Putin on Tuesday told his Cabinet members that in Europe there is hysterics and confusion in the hydrocarbon market and it is necessary to smoothly switch to alternative energy sources.

Barkindo also said that the volatility of prices in the oil market has nothing to do with the actions of OPEC+ and they are determined by external factors. On the contrary, the OPEC+alliance has demonstrated its commitment to a sustainable oil market through its actions.