An study predicts that this year’s global gas demand will increase by more than 100 billion cubic meters, or 2.5 percent, primarily due to the expansion of rapidly expanding Asian markets.
According to the International Energy Agency’s most recent report, by 2024, the Middle East and Africa’s combined gas needs will increase by 3% year.
The data shows that, in comparison to the same period last year, there was a 3% increase in the worldwide demand for gas in the first half of this year.
This higher growth rate was significantly higher than the historical average expansion rate of 2% between 2010 and 2020.
An important energy source for heating, industrial operations, and power generation is natural gas. As the globe continues its energy transition, it is generally believed to burn cleaner than coal or oil.
According to preliminary estimates, global gas demand grew at a rate significantly higher than its historical average during this time, which caused natural gas markets to shift to more dramatic growth in the first half of 2024, according to the IEA.
In the first half of 2024, both China and India resumed double-digit growth rates in terms of demand, which is mainly driven by increased gas consumption in industry and is increasingly focused in Asia, according to the Paris-based think tank.
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