The International Energy Agency quickly responded to this crisis by developing a plan to reduce the European Union's dependence on Russian gas. Shortly after the crisis broke out, a task force was established to monitor gas, clean fuel, and energy supply markets, as well as energy security. Energy security is not a secondary issue addressed only during political crises or market fluctuations; it is a fundamental strategic element. When energy security is neglected, its effects are not confined to the energy sector but extend to supply chains, affect prices, and ripple through the entire economic system. In an increasingly uncertain world, energy security must be treated as a permanent commitment within sound public policy. For this reason, the current crisis must be understood correctly: the world is not suffering from a shortage of natural gas, whether piped or liquefied. What we are witnessing today is not a shortage crisis, but an energy supply security crisis shaped by geopolitical considerations, where energy itself has become the victim.
Strong Infrastructure The question is whether the infrastructure is strong enough to deliver gas to anyone, at any time, at a cost that Asian and Western consumers can bear? Years of underinvestment have made answering this question harder than it should be. Gas remains an indispensable part of the global energy mix: it is abundant, efficient, and versatile. It also reliably supports electricity grids worldwide, is vital for heating, industry, and fertilizer production, and forms the basis for a wide range of petrochemical and manufactured goods. Gas is also gaining increasing importance for digital infrastructure, including artificial intelligence and data centers, whose need for continuous, high-quality energy is growing faster than many current systems and comprehensive carbon removal scenarios can absorb.
Increasing Use This is particularly true for most developing countries in the world. In these nations, the increasing use of natural gas is an integral part of a low-emissions future, as the practical alternative is often not to build ideal capacities based solely on renewable energy sources, but to continue relying on more carbon-intensive fuels like coal, weaker power grids, and limited industrial growth. Energy policy must be based on physical reality, not theoretical preferences. This is where the importance of the Strait of Hormuz comes into play. On a typical day, between 100 and 130 vessels pass through it. It is not merely a narrow energy corridor but a sensitive point for agriculture, manufacturing, and trade. The impact of disruptions in primary commodity markets extends beyond them, affecting farms, factories, ports, grocery stores, national budgets, and ultimately, consumers. Yet, for a very long time, the world acted as if vital routes would always remain open and that stronger guarantees could be safely postponed. This assumption now collides with reality: recent attacks on energy infrastructure in the Middle East remind us that these assets are vital not only for economic activity but for confidence in the broader system.
Regulatory Policies The deeper problem is that supply security has been sacrificed to other political priorities. Political entanglements in the West have often hindered investment in infrastructure that could have mitigated the impact of any disruption. This has led to a continued underinvestment in the West in pipelines, liquefied natural gas (LNG) terminals, storage, processing and shipping capacities, and the enhancement of critical infrastructure. Regulatory policies, however well-intentioned, must not create more uncertainty by obstructing investment in gas supplies and infrastructure. Despite a more diversified supply base, production diversity does not, in itself, equate to security. Without reliable transmission and distribution mechanisms, diversity means little for security. The global gas market no longer reacts uniformly: Europe is primarily a storage and resupply market, while Northeast Asian countries focus on alternative shipments, energy, and industrial security. South Asian countries prioritize cost tolerance and consumption reduction. Africa is a market focused on financial returns, giving priority to local needs. North America balances local needs with exports. Latin America is an indirect competitor in the Atlantic basin.
A Clear Response Therefore, the political response must be clear and transparent. To mitigate shocks like the current one, policymakers in the West and other world regions must not hinder investment in energy infrastructure, including LNG and pipeline gas projects. To meet growing and emerging demand, investment in gas is essential—not as an alternative to renewables, but as a strategic complement. This includes gas storage, which helps markets manage seasonal variations, absorb short-term shocks, and ensure reliable delivery. Governments must also relocate supply security to the heart of their energy strategies. Gas should not be viewed merely as a transition fuel; it is one of the pillars of a secure, affordable, and low-carbon global energy system, making affordability possible, competitiveness sustainable, and emissions reduction reliable. Without this, countries become more vulnerable to disruptions and fluctuations, and thus turn to more polluting or less reliable alternatives. In a world where political and economic geography are becoming increasingly intertwined, resilience must be treated as a strategic necessity.
Source: "The National Interest"
A Global Crisis The security of natural gas supplies is of paramount importance in today's complex and interconnected energy landscape. Supply disruptions can lead to severe socioeconomic consequences, as became evident following Russia's invasion of Ukraine in February 2022. In 2022 and 2023, Russian gas pipeline supplies to Europe fell by approximately 120 billion cubic meters, triggering a global energy crisis that led to soaring gas and electricity prices, fueled a wave of inflation, and heightened geopolitical risks. This vital waterway also carries about 30% of globally traded fertilizers, as well as oil, primary petrochemical feedstocks, liquefied natural gas, and sulfur. In February 2023, the International Energy Agency held a ministerial meeting on gas markets and supply security to discuss responses to the crisis and coordinate them further.
