Asia to lead gas demand recovery – IEA
Gas will be more resilient to the effects of Covid-19 than coal and oil but is “far from immune”, says the IEA, as it forecasts the largest-ever demand decline in 2020
Global demand for natural gas is forecast to fall by 4pc, or 150bn m³, in 2020 because of the Covid-19 pandemic and “an exceptionally mild winter”, according to the IEA’s five-year gas market forecast, released today. Three-quarters of this slump will be in the mature markets of Europe, North America, and Asia and Eurasia. Demand is expected to bounce back in 2021 and 2022—led by policy-driven growth in China and India—but it will not be a return to business as usual, according to the IEA’s executive director, Fatih Birol. The agency expects the Covid-19 crisis to result in 75bn m³/yr of lost demand by 2025 compared with pre-pandemic forecasts. “The Covid-19 crisis will have a lasting impact
Also in this section
24 April 2025
The government hopes industry reforms can drive ambitious upstream plans
24 April 2025
Two consecutive years of sub-par hydrocarbon discoveries signal a precarious time for the energy world
23 April 2025
Oil and gas prices could come crashing down, resurrecting ghosts of trade wars past
23 April 2025
Capping state corporate income tax deductions would reduce energy supplies and raise prices
