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IEA Sees Slowing Global Demand Growth for Natural Gas
Attachment: C, A, B
October 16, 2023–Written by John Egan for Industrial Info Resources (Sugar Land, Texas)–Global natural gas demand growth is expected to slow over the 2022-2026 period following years of strong demand growth, the International Energy Agency (IEA) (Paris, France) said in a report released October 10. In its Gas 2023 Medium-Term Growth report, the agency predicted overall global demand would increase by an annual average of about 1.6% per year between 2022 and 2026, down from an average of 2.5% a year between 2017 and 2021. The report said skyrocketing gas prices following Russia’s invasion of Ukraine in February 2022 triggered fuel switching, efficiency deployments, policy shifts and other trends that will dampen global demand for natural gas for years.
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