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Gas Market Report, Q3-2025 Executive summary
Following a slowdown in 2025, global gas demand growth is forecast to accelerate in 2026 Global natural gas demand returned to structural growth in 2024 and continued to expand in the first half of 2025, albeit at a markedly slower pace. Growth was primarily concentrated in Europe and North America, with adverse weather leading to stronger gas use in the buildings and power sectors. In contrast, gas demand was subdued in Asia, with both China and India recording demand declines in the first half of 2025. Market fundamentals remained tight in the first half of 2025 due to a combination…
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Global Hydrogen Review 2026 Production
Global hydrogen production remains dominated by unabated fossil fuels. Low-emissions hydrogen production reached almost 1 Mt in 2025 and is expected to register record growth in 2026, accounting for more than 1% of global production, strongly concentrated in China, Europe and North America.Installed electrolysis capacity doubled in 2025 to surpass 4 GW, thanks to the commissioning of several large-scale projects in China. More than 2.5 GW are under construction, targeting operation in 2026. Growth is expected mostly in Europe, with 2 GW, but is highly concentrated in a small number of big projects.One large project for production from fossil…
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Gas Market Report, Q2-2026 Executive summary
…imports rose to an all-time high over the 2025/26 winter, solidifying LNG’s position as a structural source of baseload supply in the region amid lower piped gas imports and declining domestic output. The 2025/26 heating season witnessed several cold spells, which resulted in near-record-breaking demand spikes across key markets in the northern hemisphere. This includes Winter Storm Fern in the United States, Storm Goretti in Europe and the East Asia cold wave in China. These events highlight the critical importance of gas supply flexibility for energy security, including in markets that are increasingly re...
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Global Hydrogen Review 2025 Executive summary
The hydrogen sector continues to grow despite persistent barriers and project cancellations Global hydrogen demand increased to almost 100 million tonnes (Mt) in 2024, up 2% from 2023 and in line with overall energy demand growth. This rise was driven by greater use in sectors that have traditionally consumed hydrogen, like oil refining and industry. Demand from new applications accounted for less than 1% of the total and was almost entirely concentrated in biofuels production. The supply of hydrogen continued to be dominated by fossil fuels, using 290 billion cubic metres (bcm) of natural gas and 90 million tonnes of coal equivalent (Mtce…
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Global Hydrogen Review 2025 Five key questions about hydrogen
…particularly in steel, shipping, and aviation applications.While challenges remain – including high production costs, demand and regulatory uncertainty, and infrastructure gaps – the positive developments significantly outweigh the setbacks. This is an encouraging sign for a sector that can play an important role in meeting government commitments to address climate change and strengthen energy security, at a moment when geopolitical tensions are rising. How can low-emissions hydrogen demand take off? While investment in low-emissions hydrogen production is gaining momentum, uncertain demand continues to pose a critical challenge to the industry's viability. Cumulative firm offtake agreements account for less…
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Global EV Outlook 2026 Manufacturing and trade
Manufacturing and trade of electric cars Global electric car output reached record levels in 2025 while European production rebounded Nearly 22 million electric cars were produced globally in 2025 – up more than 25% compared to the previous year. Of those, about one-quarter were traded between major production and demand centres. China remains the world’s largest hub for manufacturing and trade of electric cars, capturing nearly 75% and 40% of the respective global totals. Primarily led by domestic carmakers, China’s 2025 production of 16 million electric cars outstripped domestic demand by 20%, pushing Chinese electric car exports to double to…
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Global Critical Minerals Outlook 2025 Executive summary
…especially for battery metals. The swift increase in battery metal production highlighted the sector’s ability to scale up new supply more quickly than for traditional metals like copper and zinc. Since 2020, supply growth for battery metals has been twice the rate seen in the late 2010s. As a result, following the sharp price surges of 2021 and 2022, prices for key energy minerals have continued to decline, returning to pre-pandemic levels. Lithium prices, which had surged eightfold during 2021-22, fell by over 80% since 2023. Graphite, cobalt and nickel prices also dropped by 10 to 20…
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Global Energy Review 2025 Coal
Global coal demand growth slows Global coal demand grew by 1.2% in 2024 in energy terms, rising by around 67 million tonnes of coal equivalent (Mtce) (or in physical terms by 1.4% or 123 million tonnes). The growth rate has been declining since the strong rebound in 2021 following the end of Covid-19 lockdowns in many countries.The electricity sector continues to drive coal demand, accounting for two-thirds of global consumption. In 2024, global coal power generation grew by nearly 1% to 10 700 TWh, a new high. A key driver was record temperatures, which pushed up electricity demand for…
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What Next for the Global Car Industry Timeline of corporate strategies
This infographic tracks the evolution of corporate strategies for electrification and electric car sales from some of the world’s biggest carmakers and pure-play electric car manufacturers.
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Global Energy Review 2025 Oil
…effects eased. Oil’s share of total energy demand fell below 30% for the first time ever, 50 years after peaking at 46%.In 2024, chemical feedstocks and aviation each accounted for around half of oil demand growth in energy terms (in volumetric terms, the share of feedstocks was higher, at around 70%). After rebounding strongly following the end of Covid-19 lockdowns in many countries, growth in oil demand from the road transport sector has slowed markedly in recent years. Since 2022, it has accounted for just 5% of growth in global oil demand in energy terms. The 2024…
- Key findings
- Global trends
- Oil
- Natural gas
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+ 3 pages