Paris: In a recent medium-term gas market forecast, the International Energy Agency (IEA) adjusted its expectations for global gas demand growth in 2025, predicting an increase of less than 1%, down from the previously anticipated 1.3%. Despite this downward revision, a new consumption record is still anticipated in 2026, according to APA reports.
According to Azeri-Press News Agency, the IEA’s preliminary data reveals that natural gas demand for the first nine months of 2025 rose by a mere 0.5%, equating to roughly 10 billion cubic meters. This modest growth was primarily observed in Europe and North America, influenced by higher gas prices, increased macroeconomic uncertainty, and constrained market supply.
The report further highlights that global gas demand growth is expected to slow significantly through 2025, decreasing from 2.8% in 2024 to under 1% in 2025. Demand in the Asia-Pacific region is projected to rise by less than 1% compared to 2024, marking the weakest growth since 2022. Consequently, gas demand in 2025 could reach 4.29 trillion cubic meters, up from 4.25 trillion cubic meters in 2024.
Moreover, the IEA predicts that demand growth will pick up pace in 2026, accelerating to 2%, which would result in global gas consumption reaching a new peak of 4.37 trillion cubic meters. The report also forecasts a 7% increase in global LNG trade, approximately 40 billion cubic meters, mainly driven by the United States, Canada, and Qatar. Enhanced supply is expected to bolster demand growth, particularly in the rapidly expanding and price-sensitive Asian markets, where natural gas demand is anticipated to increase by nearly 5% in 2026, contributing significantly to global gas demand growth.