The IEA’s annual medium-term gas market outlook said global gas demand was on course to increase by an average of 1.6% a year from 2022 to 2026
Global natural gas demand is expected to experience slower growth to 2026 after peaking in mature markets such as Europe and North America in 2021, a report by the International Energy Agency said on Tuesday.
Russia’s invasion of Ukraine last year resulted in lower supplies of pipeline gas to Europe from Russia, prompting a race for alternative energy supplies. An accelerated rollout of renewables and improved energy efficiency are among the key drivers behind the downward trend for natural gas in these markets.
“After their heyday between 2011 and 2021, the world’s gas markets have entered a new and more uncertain period that is likely to be characterized by slower growth and higher volatility – and could lead to a peak in global demand by the end of this decade,” said Keisuke Sadamori, IEA director of energy markets and security.
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