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Global Gas Market to Remain Tight 2023: IEA


Rising demand for natural gas in Asia and the Middle East is set to offset a decline in other regions this year, helping to keep the global market tight according to the IEA.

  • China’s consumption is forecast to jump by more than 6%, while European demand set to drop 5% as renewables take up a greater share.
  • While the US is set to become the world’s main LNG exporter this year, global supply of the fuel is expected to increase by just 4% - not enough to offset the forecast drop in Russian pipeline deliveries, according to the IEA.
  • “Global gas supply is set to remain tight in 2023, and the global balance is subject to an unusually wide range of uncertainties,” the IEA said.

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