Iraq alone is responsible for around 13% of global gas flaring, according to the World Bank.
Last year’s COP28 provided an important framework for discussing a new energy systems order where fossil fuels would be less central, one analyst said.
The Iran gas pipeline attacks point to escalating tensions in the region.
Disruptions from the Red Sea have already been priced in and are unlikely to cause further price hikes, one analyst said.
The Gulf states remain relatively insulated from the Israel Gaza war, but heightened geopolitical tensions come as governments try to attract foreign direct investment.
Amid the ongoing Israel-Gaza war, rumours are circulating that Israel is eyeing offshore development in waters close to the Gaza Strip.