The liquefied natural gas (LNG) market will face a difficult period in 2023 due to the worsening energy crisis. This was reported by Milliyet, citing a statement by Fatih Birol, head of the IEA.

"LNG capacity of LNG exporting countries is at a record low of 20 billion cubic meters. The amount of new LNG entering the market is very limited, we have not seen such a low increase in capacity", Birol said.

He said China could pull most of its LNG capacity because it is the world's largest buyer of the fuel.

He added that in 2023 many European countries and Ukraine itself would be affected. If this year the supply of gas from Russia to Europe has dropped to 60bn cu.m., next year it might drop to zero at all. In these circumstances, the gap between supply and demand in the European region could reach 30 billion cubic meters.