Commodity Market Report
Global gas: Global Demand
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Report summary
Global gas demand will grow 13% through to 2034 supported by growth in Asia (+36%) and North America (+8%) and despite reductions in Europe (-9%). Thereafter, demand is forecast to peak and start declining as growth in China demand slows, North American demand starts reducing and European demand decline accelerates. Global LNG demand will grow much faster than gas demand over the next decade, increasing by 55%, or 220 mmtpa, as new supply reduces prices further. Beyond this period, China growth plateaus, demand in Northeast Asia and Europe declines and South and Southeast Asia remain the only major engines of growth, alongside LNG bunkering demand. Global LNG demand increases by 60 mmtpa in the 2035 to 2050 period, with no “peak LNG demand” in sight.
Table of contents
- Executive summary April 2024
- Executive summary October 2023
- Executive summary April 2023
- Executive summary October 2022
- Executive summary July 2021
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