BAKU, Azerbaijan, October 5. The data of the International Energy Agency (IEA) shows that the global demand for natural gas will reach a historic high in 2025, the IEA's October Global Gas Security Review report said, Trend reports.
“While in 2021, global gas consumption was at 4.124 trillion cubic meters, it is expected to be 4.2 trillion cubic meters in 2024 and peak at 4.293 trillion cubic meters in 2025,” the IEA report noted.
In this case, the greatest demand is expected in Asia - 997 billion cubic meters per year, of which 455 billion cubic meters in 2025 may need China.
Gas demand in Europe may remain at an average annual level of 490 bcm, while the IEA believes that competition for liquefied natural gas (LNG) will emerge between Asia and Europe and the LNG market will tighten.
This situation for 2025 is possible if Russia stops gas transit through Ukraine to the EU, which will lead to an increase in EU demand for LNG.
“The world's gas needs will be covered, and there will be no shortage. At the same time, out of 4.293 trillion cubic meters in 2025, 1.315 trillion cubic meters can be provided by the American continent (including 1 trillion cubic meters in the US), 687 bcm are expected from the Russian Federation, 710 bcm from Asia-Pacific countries, and 260 bcm from Africa," the IEA report follows.