Gas 2025

Global gas markets are set to undergo major changes by the end of the decade, with the coming wave of liquefied natural gas (LNG) production capacity set to profoundly transform market dynamics. The unprecedented scaling up of LNG supply is expected to improve gas supply security and make natural gas more affordable – including in emerging, price-sensitive import markets. However, to account for these shifts, LNG producers and suppliers may need to adapt their medium-term strategies.

The Gas 2025 medium-term report from the International Energy Agency (IEA) examines this coming transformation and its consequences, offering a comprehensive overview of potential supply, demand and trade trends in global natural gas markets for the coming years. It provides a thorough review of recent market developments ahead of the 2025-26 winter season in the Northern Hemisphere – and includes forecasts for how supply and demand could evolve to 2030.

The report also includes the IEA’s detailed annual assessment of gas supply security, including the implications of LNG contracting trends, and features a special spotlight on the potential to deploy carbon capture technologies along LNG value chains to reduce the emissions intensity of supply. Additionally, as part of the IEA’s Low-Emission Gases Work Programme, it includes a section on the medium-term outlook for biomethane, low-emissions hydrogen and e-methane.