After peak in mature markets, global gas demand is set for slower growth in coming years

After a decade of unprecedented expansion, growth in global demand for natural gas is expected to slow in the coming years as consumption declines in mature markets, according to the IEA’s new medium-term forecast.
 
Global gas demand is on course to grow by an average on 1.6% a year between 2022 and 2026, down from an average of 2.5% a year between 2017 and 2021, says the Gas 2023 Medium-Term Market Report. The report notes that the advent of the global energy crisis in 2022, triggered by Russia’s invasion of Ukraine, has ushered in a different era for global gas markets after their decade of strong growth between 2011 and 2021.