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Regional effects of the 2021–2022 global energy crisis
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=== Asia === ==== Bangladesh ==== In Bangladesh, street protests have erupted across Bangladesh in August over fuel price hikes, with price of petrol had increased by nearly 52 percent.<ref>[Street protests erupt across Bangladesh over fuel price hikes https://www.wsws.org/en/articles/2022/08/15/tyeo-a15.html {{Webarchive|url=https://web.archive.org/web/20221017192047/https://www.wsws.org/en/articles/2022/08/15/tyeo-a15.html |date=2022-10-17 }}]</ref> ==== China ==== [[China]] is facing its worst energy crisis in decades, due in part to a record heatwave, with droughts drying up water reservoirs and impacting hydropower stations.<ref>{{cite magazine |title=Will China's Energy Crisis Make It More Reluctant to Fight Climate Change? |url=https://time.com/6102765/china-energy-coal-climate/ |magazine=Time |date=30 September 2021}}</ref><ref>{{Cite web |author=Analysis by Nectar Gan |title=Analysis: China's worst heat wave on record is crippling power supplies. How it reacts will impact us all |url=https://www.cnn.com/2022/08/26/china/china-sichuan-power-crunch-climate-change-mic-intl-hnk/index.html |access-date=2022-08-26 |website=CNN|date=26 August 2022 }}</ref> ''The Guardian'' reported that "Companies in the industrial heartlands have been told to limit consumption, residents have been subjected to rolling blackouts, and annual light shows have been cancelled."<ref>{{cite news |title=Global energy crisis: how key countries are responding |url=https://www.theguardian.com/business/2021/oct/12/global-energy-crisis-how-key-countries-are-responding |work=The Guardian |date=12 October 2021}}</ref> Prices for industrial metals such as [[copper]], [[zinc]] and [[aluminum]] have soared to record levels as energy shortages in China drive up costs for electricity and natural gas.<ref>{{cite news |title=METALS-Copper heads for best week since 2016, zinc rockets |url=https://www.reuters.com/article/global-metals/metals-energy-crisis-pushes-copper-towards-best-week-since-2016-idINL1N2RB0TB |work=Reuters |date=15 October 2021}}</ref><ref>{{cite news |title=Base Metals Surge as Energy Crisis Knocks Out More Supply |url=https://www.bloomberg.com/news/articles/2021-10-15/metals-waver-near-record-as-supply-cuts-fuel-inflation-concerns |work=Bloomberg |date=15 October 2021}}</ref> The price of aluminum has reached a 13-year high.<ref>{{cite news |title=Aluminum prices hit 13-year high amid power shortage in China |url=https://asia.nikkei.com/Business/Markets/Commodities/Aluminum-prices-hit-13-year-high-amid-power-shortage-in-China |work=Nikkei Asia |date=22 September 2021}}</ref><ref>{{cite news |title=Global Energy Crisis Piles Pressure on Aluminum Supply |url=https://www.bloomberg.com/news/articles/2021-10-11/pressure-is-mounting-for-the-metal-dubbed-solid-electricity |work=Bloomberg |date=11 October 2021}}</ref> The energy crisis has intensified pressures on China ahead of the [[2022 Winter Olympics]].<ref>{{cite news |title=Analysis: China's green Winter Olympics 2022 to boost natural gas demand |url=https://www.spglobal.com/platts/en/market-insights/latest-news/energy-transition/091521-analysis-chinas-green-winter-olympics-2022-to-boost-natural-gas-demand |work=[[S&P Global]] |date=15 September 2021}}</ref><ref>{{cite news |title=How China's energy crisis has sent commodity markets reeling |url=https://asia.nikkei.com/Spotlight/Market-Spotlight/How-China-s-energy-crisis-has-sent-commodity-markets-reeling |work=Nikkei Asia |date=18 October 2021}}</ref> Al-Jazeera reported that "China's energy crisis is partially of its own making as [[General Secretary of the Chinese Communist Party|CCP general secretary]] [[Xi Jinping]] tries to ensure blue skies at the Winter Olympics in Beijing next February and show the international community he's serious about [[Low-carbon economy|de-carbonizing]] the economy."<ref>{{cite news |title=The next shock in the pipeline for China's economy: energy crunch |url=https://www.aljazeera.com/economy/2021/9/27/the-next-shock-in-the-pipeline-for-chinas-economy-energy-crunch |work=[[Al Jazeera]] |date=27 September 2021}}</ref> The energy crunch in Europe and Asia has allowed the [[Kremlin]] to forge its energy connections with China as Gazprom announced another gas pipeline with [[China]], [[Power of Siberia 2]], after the finalization of the existing [[Power of Siberia]] in 2019. The second project between Moscow and Beijing, planned to deliver gas from the [[Yamal Peninsula]], is projected to be signed off in late 2022.<ref>{{Cite news|date=2021-11-18|title=Russia's energy deals with China may backfire on the Kremlin|work=Financial Times|url=https://www.ft.com/content/2b699edc-aa18-4582-aaca-58e5e31b395d|access-date=2022-10-01}}</ref> According to ship-tracking data, China spent almost US$19 billion on Russian oil, gas and coal in the first half of 2022, nearly twice the amount than a year earlier. In July 2022, Laura Myllyvirta of [[Centre for Research on Energy and Clean Air]] told [[Al Jazeera]] "China is already buying essentially everything that Russia can export via pipelines and Pacific ports."<ref name="auto">{{Cite web|title=Russia pockets $24bn from selling energy to China, India|url=https://www.aljazeera.com/economy/2022/7/6/russia-pockets-24b-from-selling-energy-to-china-india|access-date=2022-10-01|website=www.aljazeera.com|language=en}}</ref> ==== India ==== [[India]] experienced power outages in [[Uttar Pradesh]], [[Rajasthan]], [[Punjab, India|Punjab]], [[Jharkhand]], [[Maharashtra]], and [[Kerala]] as the country's coal stockpiles at power plants were dangerously low.<ref>{{cite news |title=India States Hit by Power Outages as Coal Supply Still Tight |url=https://www.bloomberg.com/news/articles/2021-10-11/indian-states-hit-by-power-blackouts-as-coal-supply-still-tight |work=Bloomberg |date=11 October 2021}}</ref><ref>{{cite news |title=China isn't the only huge Asian economy with a coal shortage now |url=https://www.cnbc.com/2021/10/12/coal-shortage-india-could-soon-be-on-the-brink-of-a-power-crisis.html |work=CNBC |date=12 October 2021}}</ref> In order to mitigate the outage, coal supplies were re-routed from industries to power plants. In October 2021, the crisis reached its peak, with 1/3 of coal power plants having less than three days of supply.<ref>{{cite news |title=India's Oct power demand rises 4.1%, coal-fired output up 1.8% |url=https://www.reuters.com/world/india/indias-oct-power-demand-rises-41-coal-fired-output-up-18-2021-11-01/ |work=Reuters |date=1 November 2021}}</ref> A complete power failure was averted as [[Coal India]], which supplies 80% of coal output, ramped up coal production. In 2022, India was in a similar situation as China. The country increased its energy reliance with Russia in the aftermath of the [[2022 Russian invasion of Ukraine]], as imports for Russian liquid gas, crude oil and coal tripled to almost $5 billion.<ref name="auto" /> ==== Laos ==== In 2022, Laos was hit by an economic crisis caused by rising debt, fuel shortage and rising inflation. Long queues formed at gas stations in Vientiane as motorists scrambled for fuel.<ref>{{cite news |title=A fuel shortage is driving Laos — which is on the brink of a debt default — to seek out cheap Russian oil |url=https://markets.businessinsider.com/news/commodities/energy-fuel-shortage-laos-buy-cheap-russian-oil-debt-default-2022-7 |work=Business Insider |date=7 July 2022}}</ref> ==== South Korea ==== Diesel vehicle drivers had difficulties buying [[diesel exhaust fluid]] in South Korea.<ref>{{cite news |title=Urea shortage threatens South Korea's transport, energy industries |url=https://www.reuters.com/business/energy/urea-shortage-threatens-south-koreas-transport-energy-industries-2021-11-09/ |work=Reuters |date=9 November 2021}}</ref><ref>{{cite news |title=ANALYSIS: Shortage of diesel exhaust fluid could halt South Korea's automotive fuel demand recovery |url=https://www.spglobal.com/platts/en/market-insights/latest-news/oil/111021-analysis-shortage-of-diesel-exhaust-fluid-could-halt-south-koreas-automotive-fuel-demand-recovery |work=S&P Global |date=10 November 2021}}</ref> Despite sanctions against the [[Russian Federation]], SK signed a 3 trillion ($2.25 billion) deal with a Russian state-run nuclear energy company to provide components for Egypt's first nuclear power plant, although it made an awful impression on its Western allies.<ref>{{Cite web|date=2022-08-26|title=World Of Trade: South Korea Signs $2.25 Billion Deal With Russia Nuclear Company| Countercurrents|url=https://countercurrents.org/2022/08/world-of-trade-south-korea-signs-2-25-billion-deal-with-russia-nuclear-company/|access-date=2022-10-01|website=countercurrents.org|language=en-US}}</ref> ==== Sri Lanka ==== {{Main|2022 Sri Lankan protests}} High fuel prices and the [[Sri Lankan economic crisis]] resulted in electricity, fuel and cooking gas shortages in the country. Long queues formed in front of gas stations<ref>{{Cite web |last=Ellis-Petersen |first=Hannah |date=2022-03-02 |title=Milk sachets, chicken, fuel: basics slip out of reach for Sri Lankans as economic crisis bites |url=https://www.theguardian.com/world/2022/mar/02/milk-sachets-chicken-fuel-basics-slip-out-of-reach-for-sri-lankans-as-economic-crisis-bites |access-date=2022-04-03 |work=The Guardian}}</ref> as government suspended fuel sales to non-essential vehicles.<ref>{{cite news |url=https://www.bbc.com/news/business-61961821 |title=Non-essential petrol sales halted for two weeks in Sri Lanka |date=28 June 2022 |publisher=BBC News }}</ref> Discontent lead to protests which ousted president [[Gotabaya Rajapaksa]]. ==== Vietnam ==== Vietnam experienced a nationwide fuel supply crunch in November 2022. Some gas stations in two biggest cities Hanoi and Ho Chi Minh city have shut or limited sales, resulting in long queues of people waiting to get refueled.<ref>{{cite news | url=https://www.reuters.com/business/energy/vietnam-gas-station-closures-raise-concerns-fuel-supply-crunch-2022-11-01 | title=Vietnam gas station closures raise concerns of fuel supply crunch | newspaper=Reuters | date=November 2022 }}</ref>
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