Commodity Market Report

Global gas markets report: Global Demand

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30 March 2021

Global gas markets report: Global Demand

Report summary

As we extend our long term forecast to 2050, our view highlights the crucial role of natural gas in the future energy mix. We anticipate global gas demand to grow at an average rate of 1.2% through 2040 mainly supported by growth in Asia as coal to gas switching helps reduce carbon and pollution. However, gas demand peaks in 2040 and declines in the last ten years of our forecast driven by increased decarbonization efforts globally.' Key upside and downside risks to our forecast include: • Pace of economic recovery and gas demand rebound in the near term; • Pace of coal retirement globally; • Pace of Infrastructure development to unlock demand in emerging markets; • Pace of energy transition and routes towards decarbonisation and net zero especially given recent pledges from major LNG importing countries such as China, South Korea, and Japan.

Table of contents

  • Gas’ role in the global energy mix
  • Gas demand: key risks remain to both the upside and downside in the energy transition
  • LNG demand
    • China
    • Northeast Asia (Japan, South Korea, Taiwan)
    • South Asia (India, Pakistan, Bangladesh) and Southeast Asia
    • What to watch
    • Short term
    • Long term
    • What to watch
    • Short term
    • Long term
    • What to watch
    • Short term
    • Long term
    • What to watch
    • Short term
    • Long term
    • Middle East
    • Africa
    • Russia and the Caspian
    • What to watch
    • Short term
    • Long term
  • Industry
  • Power
  • Residential & Commercial
  • Transport
  • Other
  • Large scale bunkers
  • Residential electrification
  • Transport
  • Fugitive emissions
  • Coal-to-gas switching
  • The rise of low carbon hydrogen
  • Natural gas, Net Zero targets and Wood Mackenzie’s AET-2 scenario.

Tables and charts

This report includes 28 images and tables including:

  • WM base case - gas' share of TPED
  • WM base case – global gas demand and LNG imports
  • Europe gas demand vs previous outlook
  • Europe demand by sector
  • Europe demand by sub-region
  • North America gas demand versus previous outlook
  • North America demand by sector
  • North America demand by sub-region
  • Latin America and the Caribbean gas demand versus previous outlook
  • Latin America and the Caribbean demand by sector
  • Latin America and the Caribbean demand by sub-region
  • Green hydrogen displacement
  • Global Gas Demand: Base Case vs AET-2 (2020) vs AET-2 (2019)
  • Asia-Pacific gas demand vs previous outlook
  • Asia-Pacific gas demand growth rate
  • Asia-Pacific demand by sector
  • Asia-Pacific demand by sub-region
  • MEARC gas demand versus previous outlook
  • MEARC gas demand growth rate
  • MEARC demand by sector
  • MEARC demand by sub-region
  • Industrial demand versus previous view
  • Residential & Commercial demand versus previous view
  • Power demand versus previous view
  • Transport demand versus previous view

What's included

This report contains:

  • Document

    H2 2020 Globaldemand

    XLSX 3.14 MB

  • Document

    Global gas markets report: Global Demand

    PDF 1.38 MB