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Gas Market Report, Q1-2025

Report launch

Background information

As global demand for gas continues to climb, markets remain fragile. Below-average growth in liquefied natural gas (LNG) output has kept the supply side tight, while extreme weather events have added to market strains during the Northern Hemisphere’s winter heating season. Meanwhile, geopolitical tensions continue to fuel price volatility, with the halt of Russian piped gas transit via Ukraine on 1 January 2025 focusing renewed attention on the security of gas supplies in Europe.

The new edition of the IEA’s quarterly Gas Market Report explores these trends and more, providing a thorough review of market developments in 2024 and a short-term forecast for 2025.  

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