Global demand for natural gas increased at a stronger rate in 2024 than in the previous two years, which were heavily affected by the turmoil of the global energy crisis.
At the same time, new gas supplies that came into the market last year remained limited due to the relatively slow growth of LNG production while geopolitical tensions continued to fuel price volatility, according to a new IEA review of global gas markets and security.
Global gas demand rose by more than 2.5% in 2024, with similar growth expected in 2025, according to the latest edition of the IEA’s annual Global Gas Security Review.
Increasing demand
Fast-growing markets in Asia accounted for a large amount of the increase while a rebound in Europe’s industrial gas demand also contributed, even though it remained well below its pre-crisis levels.
The new Security Review also included the IEA’s latest quarterly Gas Market Report analysis.
“The growth we saw in global gas demand last year and the next reflects the gradual recovery from a global energy crisis that hit markets hard,” said IEA Director of Energy Markets and...
Pressing the gas pedal
