The Strategist

IEA expects decline in global gas demand in 2022

07/05/2022 - 10:45

Due to high prices and a limited supply, the International Energy Agency (IEA) anticipates a fall in gas demand by the end of 2022 and moderate growth through the end of 2025. This forecast is made in the IEA's quarterly gas market report.
The IEA stated that "current high prices and supply problems, which arose in the second half of 2021 and further aggravated after Russian soldiers entered Ukraine in February 2022," are seriously straining natural gas consumption.

"This is anticipated to result in a somewhat negative growth in 2022, with a mild rise in consumption in the years that follow. As a result, global gas demand would decrease by 0.5 percent in 2022 before gradually rising to 1.5 percent in the following years "2025," the message continues.

According to the agency, the rise in gas use from 2023 to 2025 will be gradual. By the end of the forecast period, the IEA predicts that world gas consumption will have increased by an average of 0.8 percent year between 2022 and 2025, reaching 4.240 trillion cubic meters.