Asia to lead gas demand recovery – IEA
Gas will be more resilient to the effects of Covid-19 than coal and oil but is “far from immune”, says the IEA, as it forecasts the largest-ever demand decline in 2020
Global demand for natural gas is forecast to fall by 4pc, or 150bn m³, in 2020 because of the Covid-19 pandemic and “an exceptionally mild winter”, according to the IEA’s five-year gas market forecast, released today. Three-quarters of this slump will be in the mature markets of Europe, North America, and Asia and Eurasia. Demand is expected to bounce back in 2021 and 2022—led by policy-driven growth in China and India—but it will not be a return to business as usual, according to the IEA’s executive director, Fatih Birol. The agency expects the Covid-19 crisis to result in 75bn m³/yr of lost demand by 2025 compared with pre-pandemic forecasts. “The Covid-19 crisis will have a lasting impact
Also in this section
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
1 April 2026
The US-Iran conflict demonstrates the need for diversification in several senses of the word. It also exposes the limits of Washington applying pressure on major oil and gas producers it considers geopolitical adversaries
31 March 2026
Disappointing results in its bidding round are a reality check for Libya, and global exploration generally
