IEA expects global gas consumption to decline by 0.8% in 2022

At the end of 2022, gas consumption in the world will decrease by 0.8%, and in 2023 it is expected to grow by 0.4%, follows from the quarterly report International Energy Agency (IEA). According to him, high natural gas prices led to a decrease in consumption against the backdrop of a reduction in supplies by Russia.

According to the IEA report, gas consumption in Europe in the first eight months of this year decreased by more than 10% compared to the same period in 2021. This happened due to a 15% drop in demand for gas in the industry against the backdrop of a reduction in production. A reduction in gas demand was also noted in India and South Korea. China’s gas demand is projected to grow by less than 2% this year, the lowest annual growth rate since the early 1990s.

“The Russian invasion of Ukraine and the drastic reduction in natural gas supplies to Europe are causing significant damage to consumers, businesses and the economy as a whole – not only in Europe, but also in emerging markets and developing countries,” said Keisuke Sadamori, IEA Director of Energy Markets. . In his opinion, the situation in the markets in 2023 “will remain very tense.”

From August 31 was stopped Nord Stream, which led to restrictions on supplies to a number of Western European customers of Gazprom. September 26 at Nord Stream and Nord Stream 2 pressure dropped sharply. Sweden informedthat the explosions were the cause. NATO called damage to gas pipelines a sabotage, Vladimir Putin – an act of terrorism. In both pipelines It was about 800 million cubic meters m of gas, by the end of last week it was all came out.

On the development of the situation – in the material “Kommersant” “Accusations put on stream”.

Laura Keffer