IEA predicts the end of the “golden age” of gas in the world – Kommersant
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The International Energy Agency (IEA) predicts a decline in demand for natural gas. The agency reported this in forecast World Energy Outlook 2023.
According to IEA research, global gas consumption has grown by an average of 2% per year since 2022, however, according to the developed policy scenario, demand is expected to slow by 0.4% from now to 2030.
According to the report, a number of liquefied natural gas (LNG) projects will be launched in 2025, adding more than 250 billion cubic meters. m per year of new capacity by 2030. This is equivalent to approximately 45% of today’s total global LNG supply. The US and Qatar will account for 60% of this volume, according to the scenario.
Increased capacity will reduce the cost of LNG, but also risks oversaturating the market, outpacing demand. China, currently the top energy consumer, is reshaping its economy, which will impact the energy market.
It is noted that following restrictions on the sale of Russian natural gas, market instability was observed, which led to concerns about safety and price hikes. However, after the launch of new projects, Russia’s share in international gas trade, which was 30% in 2021, will be halved by 2030.
Assessment of the growing burden on financing carbon neutrality goals from the International Monetary Fund – in the material “Green economy on debt”.
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