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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
NATURAL GAS
The 2024 global gas demand is forecast close to the average growth rate displayed during 2010-21 but only about half of that growth is structural according to IEA analyst Greg Molnar.
- Global demand is forecast to grow by 2.5% (100bcm) in 2024, with almost half driven by cooler weather and the recovery from the 2022 gas supply shock according to the IEA quarterly report last week. Emerging economies are leading the increase in consumption with Asia alone accounting for almost 40% of incremental demand.
- An assumption of a return to average weather conditions accounts for over one-third of the demand growth in 2024.
- A price-driven recovery in industry and power accounts for 15-20% of incremental gas demand in 2024.
- The forecast suggests a return to a more pronounced growth rate after the 2022/23 gas supply shock of losing about 120bcm of supply in just two years.
Source: IEA
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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