IEA (2022), Gas Market Report, Q3-2022, IEA, Paris https://www.iea.org/reports/gas-market-report-q3-2022, License: CC BY 4.0
About this report
Russia’s invasion of Ukraine has exacerbated the tightening supply of natural gas underway since mid-2021, further pushing up prices for consumers and leading to fuel switching and demand destruction. It also casts longer-term uncertainty on market prospects for natural gas, especially in developing markets where it was to play a central role in energy transitions.
Natural gas demand is expected to decline in 2022 and remain subdued up to 2025. Europe’s surging pursuit of LNG to phase out Russian pipeline supply and limited global LNG export capacity additions raise the risk of prolonged tight markets. Faster development and implementation of clean energy transition policies, especially in mature gas markets, would ease price competition and help emerging markets access supplies that can contribute to short-term improvements in carbon intensity and air quality.
This new issue of the Gas Market Report offers a medium-term forecast and analysis of global gas markets to 2025, as well as a review of recent developments in major regional gas markets during the first half of 2022.