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LNG: Global Gas Market Still 30bcm Short in 2025 Despite Growing LNG Supply: IEA

LNG
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The global gas market needs more LNG to fully balance back to pre-crisis supply levels, according to IEA analyst Greg Molnar.

  • Despite stronger supply growth the global gas market will still be around 30bcm short in 2025 keeping market conditions tight and volatility supported amid growing geopolitical tensions.
  • More time and more LNG are needed to make-up for the lost Russian volumes as the market recovers from the 2022/23 gas supply shock.
  • Russian piped gas deliveries to Europe fell by about one-fifth of the global LNG market of 120bcm between 2022/23 and could decline by a further 15bcm in 2025 as the Russian-Ukraine transit contract expires.
  • Global LNG supply grew less than 50bcm through 2022-24 while Russian Power of Siberia pipeline flows to China rose by 20bcm.
  • LNG supply growth is to accelerate in 2025, with around 30bcm of additional gas from projects such as Plaquemines or LNG Canada.
  • Power of Siberia will add around 8bcm of gas supply as it reaches nameplate capacity in 2025.

 

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The global gas market needs more LNG to fully balance back to pre-crisis supply levels, according to IEA analyst Greg Molnar.

  • Despite stronger supply growth the global gas market will still be around 30bcm short in 2025 keeping market conditions tight and volatility supported amid growing geopolitical tensions.
  • More time and more LNG are needed to make-up for the lost Russian volumes as the market recovers from the 2022/23 gas supply shock.
  • Russian piped gas deliveries to Europe fell by about one-fifth of the global LNG market of 120bcm between 2022/23 and could decline by a further 15bcm in 2025 as the Russian-Ukraine transit contract expires.
  • Global LNG supply grew less than 50bcm through 2022-24 while Russian Power of Siberia pipeline flows to China rose by 20bcm.
  • LNG supply growth is to accelerate in 2025, with around 30bcm of additional gas from projects such as Plaquemines or LNG Canada.
  • Power of Siberia will add around 8bcm of gas supply as it reaches nameplate capacity in 2025.

 

Keep reading...Show less