The country is experiencing an electricity crisis.
(Photo: IMAGO/ZUMA Wire)
Bangkok, Mexico City, Cape Town Europe is struggling to find alternatives to Russian gas – and the lights are out in developing countries. In Bangladesh, in the heat of summer, daily power cuts, often lasting for hours, dominate daily life. At the behest of the authorities, shopping centers and markets had to close a few hours after dark to conserve energy. For weeks, power stations did not have enough fuel to generate enough electricity for the country’s nearly 170 million people.
This crisis is a direct consequence of the turmoil in European energy markets: reduced Russian gas supplies have caused European demand for ship-delivered LNG to rise sharply. In the emerging markets of the Global South, who’s ready?s relying on LNG – liquefied natural gas – gas tankers, on the other hand, are becoming scarce. Local energy suppliers are no longer able to bargain given the rising prices on world markets.
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