Gas Glut 2 GLO 0 - BAL GAS PO 2 - WER EXPAN

announced or are in the pre-construction2 and con- struction phases—increased 13% in the last year to 783 Driven by concerns over energy security and promises gigawatts (GW), mainly driven by increases in capacity of a durable transition fuel to decarbonize economies, of projects in the pre-construction and construction countries around the world are developing oil and gas, phases. [...] ■ The boom of oil and gas plants in development dwarfs the 12 GW of gas-fired capacity that was ■ Approximately 207 GW is in the construction phase, retired in the last year. [...] The Uzbekistan leads the region with 8 GW of oil- and 4.5 GW planned gas-fired expansion, almost half of gas-fired capacity in development, exceeding the rest which are coal-to-gas conversions or replacements, of the countries in the region combined. [...] The unwillingness to set aside gas is also evident in the EU’s rapid investment in hydrogen as a future power Additionally, the overall gasification of the region generation fuel, with a number of countries testing continues, with Bosnia and Herzegovina, Alba- small scale blending of hydrogen and methane gas in nia, Montenegro, and North Macedonia (currently conventional gas turbines. [...] Notably, 96% of the region’s rently dominates its electricity supply, Egypt has only nearly 99 GW of operating oil- and gas-fired power 375 MW of oil and gas power plants in development plants are concentrated in Egypt, Algeria, Libya, and and plans to increase the share of renewables in the Tunisia.