The Global energy crisis (2021–2023) has caused varying effects in different parts of the world.

Effects by location Africa Cameroon Cameroon has been hit by fuel shortages in July as most fuel stations run out of diesel and have to start rationing. Fuel subsidies cost the Cameroonian government over $1.2 billion a year and Yaounde has come under pressure from the IMF to stop them.

Central African Republic Fuel shortage and rising food prices exacerbated humanitarian assistance in the country, with some humanitarian flights having been either suspended or postponed due to high fuel price.

Ethiopia In Ethiopia, the government removed fuel subsidies in July, causing diesel price to increase by 38%. Motorists in the capital Addis Ababa were seen waiting in long queues for up to eight hours to refill. Ethiopia's government was urged to lift restrictions on fuel supplies to the war-torn Tigray Region.

Kenya In Kenya, a row between oil companies and the government over subsidy payments has resulted in reduced imports and a fuel crunch. Hours-long queues and strict rationing at petrol stations are reported.

Nigeria Fuel crisis exacerbated by the Russian invasion of Ukraine has caused prices for importing fuel to go up by more than 100%. Despite being an oil exporting country and Africa's biggest oil producer, Nigeria imports almost all of its fuel since its refineries fail to cover the country's needs. Long lines up to eight hours are reported in the capital Lagos. The lack of A1 jet fuel has caused flights to be cancelled with passengers stranded in Abuja.

Sierra Leone

In Sierra Leone, protests triggered by rising cost of living and energy broke out in August. At least 21 civilians and 6 police officers were reported killed.

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.[Street protests erupt across Bangladesh over fuel price hikes https://www.wsws.org/en/articles/2022/08/15/tyeo-a15.html ]

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. 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."

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. The price of aluminum has reached a 13-year high.

The energy crisis has intensified pressures on China ahead of the 2022 Winter Olympics. Al-Jazeera reported that "China's energy crisis is partially of its own making as 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 de-carbonizing the economy."

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. 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."

India India experienced power outages in Uttar Pradesh, Rajasthan, Punjab, Jharkhand, Maharashtra, and Kerala as the country's coal stockpiles at power plants were dangerously low. 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. 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 Russian invasion of Ukraine, as imports for Russian liquid gas, crude oil and coal tripled to almost $5 billion.

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.

South Korea Diesel vehicle drivers had difficulties buying diesel exhaust fluid in South Korea. 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.

Sri Lanka

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 as government suspended fuel sales to non-essential vehicles. 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.

Oceania

Australia

Australia's east coast faced very high gas and electricity prices and low reserve capacity in mid-2022, due to a combination of factors, including high prices for gas (which is exported via LNG terminals in Queensland and thus local prices depend on the global LNG market) and thermal coal, constrained production and transportation due to flooding in coal producing regions, and a series of outages in coal-fired power plants. This led the Australian energy market operator AEMO to temporarily suspend operation of the east coast electricity market for the first time since its inception, and take direct control of generation and dispatch. AEMO also intervened in the local gas market after a large gas storage facility in Victoria became increasingly depleted due to the "unprecedented demand".

Europe

Due to a combination of unfavourable conditions, which involved soaring demand of natural gas, its diminished supply from U.S., Norway and Russia to the European markets, less power generation by renewable energy sources such as wind, water and solar energy, and a cold winter that left European gas reservoirs depleted, Europe faced steep increases in gas prices in 2021. Russia has fully supplied on all long-term contracts, but has not supplied extra gas on the spot market; in the first half of 2021, Russia supplied over 3 billion m³/week (almost half of EU's imports), and around 2.3 billion m³/week in the second half of 2021. In October 2021, the Economist Intelligence Unit reported that Russia had limited extra gas export capacity because of its own high domestic demands with production near its peak. On 27 October 2021, Russian President Vladimir Putin authorised state-controlled energy giant Gazprom to start pumping extra natural gas into European gas storage sites once Russia finishes filling its own gas inventories, which may happen by November 8.

The Groningen gas field in the Netherlands, Europe's largest natural gas field, will stop production between 2025 and 2028. Reuters reported that "extraction quickly became problematic in recent years, as a series of tremors caused by gas production damaged houses and buildings in the region."

Some critics blamed the European Union Emissions Trading System (EU ETS) and closure of nuclear plants for contributing to the energy crisis. The Merkel government in Germany decided in 2011 to phase out both nuclear power and coal plants.

U.S. exports of liquefied natural gas (LNG) to China and other Asian countries surged in 2021, with Asian buyers willing to pay higher prices than European importers. In late 2021 and early 2022, half or more of US LNG exports went to Europe.

In late 2021, European energy prices continued to increase, while an unprecedented energy crunch, particularly for natural gas, weighed heavily on economic growth indicators. Norway increased its export to EU to 2.9 billion m³/week. Liquified natural gas markets were tight for the entire 2021. The Kremlin has been accused to tout the necessity of Nord Stream 2, but some energy analysts view energy shortages in Europe as self-inflicted, and blame European Union sanctions of Russian entities, among other reasons.

Europe's energy crisis was spreading to the fertilizer and food industries. According to Julia Meehan, the head of fertilizers for the commodity price agency ICIS, "We are seeing record prices for every fertiliser type, which are all way above the previous highs in 2008. It's very, very serious. People don't realise that 50% of the world's food relies on fertilisers."

On 16 November 2021, European natural gas prices rose by 17% after Germany's energy regulator temporarily suspended approval of the Nord Stream 2 natural gas pipeline from Russia to Germany.

In the first two months after Russia invaded Ukraine on 24 February 2022, Russia earned $66.5 billion from fossil fuel exports, and the EU accounted for 71% of that trade. As a result of the invasion, Brent oil prices rose above $130 a barrel for the first time since 2008. In April 2022, Russia supplied 45% of EU's natural gas imports, earning $900 million a day. In May 2022, the European Commission proposed a ban on oil imports from Russia, part of the economic response to the 2022 Russian invasion of Ukraine. In May 2022, Russia imposed sanctions on European subsidiaries of Gazprom.

In response to the invasion of Ukraine, the European Commission and International Energy Agency presented joint plans to reduce reliance on Russian energy, reduce Russian gas imports by two thirds within a year, and completely by 2030. On 18 May 2022, the European Union published plans to end its reliance on Russian oil, natural gas and coal by 2027.

Responding to the crisis, Peru saw its export of LNG increase 74% in the first months of 2022 compared to the previous year, with LNG exports to Europe rising greatly, especially in Spain and the United Kingdom.

In June 2022, the United States government agreed to allow Italian company Eni and Spanish company Repsol to import oil from Venezuela to Europe to replace oil imports from Russia. French Finance Minister Bruno Le Maire said that France negotiated with the United Arab Emirates to replace some Russian oil imports. On 15 June 2022, Israel, Egypt and the European Union signed a trilateral natural gas agreement.

In March 2022, Bloomberg reported that China was reselling its US LNG shipments to a desperate Europe at a "hefty profit". In August 2022, it was reported in Nikkei Asia that China was again reselling some of its surplus LNG cargoes to Europe due to having weak energy demands in its domestic market, suggesting that China was sufficiently stocked in LNG and was an unexpected "white knight" throwing an "energy lifeline" to help Europe with its winter gas shortage fears.