Commodity Market Report
Global gas: Global supply
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Report summary
European production will soon enter terminal decline as Northwest Europe’s major fields continue to mature. Norway remains the most significant contributor to European production. In Asia Pacific, China drives most of the 2030s growth, offsetting declines elsewhere. The Middle East will see significant supply growth, primarily driven by multiple new LNG projects in Qatar but also in other markets like the UAE. Growth in Russian supply will be more gradual through the forecast as the country continues to face international sanctions and pipe and LNG export options face headwinds. US supply will grow about 600 bcm through its peak in the early 2040s before declining modestly to 1540 bcm by2060.
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