Global gas: Global Demand

Global gas demand will grow 16% through to 2035 supported by growth in Asia (+35%) and North America (+18%), and despite Europe demand is expected to decline further (-7%). Global LNG demand will grow much faster than gas demand over the next decade, increasing by 60%, or 250 mmtpa, supported by a wave of LNG supply growth. Low prices will kick start a new phase of LNG demand growth across emerging Asian markets, contributing for 75% of global demand growth by 2035, fueling economic growth amid limited domestic supply availability, and despite lower Chinese demand expectations. LNG demand in Europe will grow an additional 30 Mt through to 2035, partly to absorb excess LNG supply, but also because of yet less Russian imports and a more resilient demand. LNG demand growth in other Atlantic markets will start playing a more prominent role, increasing by 25 mmtpa through to 2035. LNG marine bunkering will increase 30 mmtpa by 2035.