The IEA now sees global demand for gas increasing by 2% each year in five years’ time, down from its previous growth forecast of 2.3%.
A “significant” reason for the change is weaker than expected demand for gas in Asia, where persistently high prices until the recent downturn shifted demand toward coal and renewables.
“The belief that Asia will take whatever quantity of gas at whatever price is no longer a given,” says IEA executive director Maria van der Hoeven.
