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IEA Revise Down Global Gas Demand Growth

NATURAL GAS

IEA gas market report released today shows a downward revision to their global gas demand growth between 2022 and 2025 due to fuel switching to coal and oil and due to demand destruction.

  • IEA expects global gas demand to rise by 140bcm in the five years from 2021 to 2025, less than half the amount forecast previously and smaller than the 170bcm increase seen in 2021 alone.
  • The report also casts doubt of the long-term role of gas in helping developing economies move away from more carbon intensive fuels.
  • Only one fifth of the downward revision comes from efficiency gains and substituting renewables for gas.

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