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Household Energy Affordability Executive summary
…continues to be a key priority for governments as energy bills remain elevated Household energy bills globally have come down from the peaks seen during the global energy crisis in 2022, but on average they were still around 4% higher in real terms in 2024 than they were in 2019. Household energy bills soared in many parts of the world as a result of the Covid-19 pandemic and Russia’s full-scale invasion of Ukraine in 2022, which introduced a period of extreme volatility and a sharp run-up in prices. At the peak of the crisis in 2022…
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Renewables in District Energy Executive summary
…and support coordinated infrastructure planning in urban and industrial settings.District heating serves more than 600 million people worldwide and global networks extend over more than one million kilometres. The amount of heat delivered through district heating has increased by about 35% since 2010. These systems are embedded in national energy systems across Europe, China, Russia and parts of Central Asia. District cooling is less developed than district heating but is expanding beyond the Middle East into multiple regions. With rising cooling demand and urban density, it can improve efficiency, reduce peak electricity demand and support system integration.To date…
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Gas Market Report, Q2-2025 Executive summary
…China”). Tighter market fundamentals put upward pressure on gas prices across all key markets, while geopolitical tensions have also continued to fuel price volatility. Below-average growth in global LNG output together and lower piped gas exports from the Russian Federation (hereafter “Russia”) to the European Union have kept supply tight and increased the call on gas storage and reserve mechanisms. Global gas demand growth is expected to slow to around 1.5% in 2025 due to a combination of initially tight market conditions and heightened macroeconomic uncertainties. The global gas balance remains fragile in an increasingly complex geopolitical context…
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World Energy Investment 2025 European Union
…emissions generation. Grid investment is key to EU price convergence and market stability In the past decade, the European Union (EU) has increased its commitment to clean energy, with investment reaching almost USD 390 billion in 2025. Investment in low-emissions electricity was driven by the global energy crisis that followed Russia’s full-scale invasion of Ukraine in 2022, subsequent favourable policy incentives and the declining cost of renewable technologies. In 2024 renewables generated 50% of electricity used in the EU, while fossil fuels accounted for just over 25% (nearly half what their share was a decade ago), bringing…
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World Energy Investment 2025 Eurasia
…was almost USD 190 billion in 2015, but has since followed a downward trend, reaching its lowest point in the past decade, around USD 135 billion, in 2022. Declining costs for oil and gas supply partly explain this trend, but it has been exacerbated by the decline in Russian spending after its full-scale invasion of Ukraine and the loss of most of its European export markets. However, investment has picked up in other markets, notably in Kazakhstan with the launch of the USD 48 billion expansion of the Tengiz oilfield, Central Asia’s largest oilfield, which is operated by Tengizchevroil. Investment in 2025 reaches a…
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Renewables 2025 Biogases
…has increased significantly in the past five years Since 2020, more than 50 new policies have been introduced around the world, as more countries recognise the potential role of biogas and biomethane in the transition to sustainable energy systems. Several key factors are driving this surge. First is the growing importance of energy security following the energy crisis triggered by Russia’s invasion of Ukraine and recent geopolitical developments. Second is the need to accelerate decarbonisation in hard-to-abate sectors, together with growing emphasis on methane emissions reductions. Third, countries are paying more attention to the circular economy concept…
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World Energy Outlook 2025 Current Policies Scenario
…in EV sales. Global natural gas demand rises to 5 600 billion cubic metres by 2050: demand in the Middle East increases strongly, but developing economies in Asia are the largest source of demand growth, and their rising supply needs are met by new pipelines from Russia to China and by increased flows of liquefied natural gas. Oil and gas prices rise to 2050 in the CPS. The United States remains the world’s largest oil and gas producer through to 2050, but oil production of the OPEC+ in 2050 is 15% higher than at any point in history. The CPS assumes…
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Gas Market Report, Q1-2026 Executive summary
…Following a relatively strong increase in 2024, global gas demand growth slowed markedly in 2025 due to a combination of weaker industrial activity and relatively high spot LNG prices in the first half of the year. Market opening reforms continued to gather pace in Asia while the European Union reached a historic decision to phase out Russian natural gas imports by November 2027 at the latest.Global LNG supply growth is set to accelerate further in 2026 to its fastest pace since 2019. This is expected to foster stronger global gas demand growth, primarily driven by China and emerging Asian…
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Outlook for Biogas and Biomethane Biogas and biomethane outlook to 2050
…for biogases is very different now compared to our last Outlook in 2020, with total demand 32% higher in 2040 in the STEPS than in the New Policies Scenario at the time. Whereas natural gas prices in 2020 were at record lows, the Russian invasion of Ukraine in 2022 triggered interest in developing biomethane to substitute imported natural gas. The revised figure is driven in part by strengthened policy incentives, notably in Europe and China. There is a strong continued use case for biogases in the Outlook scenarios. Electricity's share in total final consumption increases from 20% in 2023…
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Gas Market Report, Q3-2025 Executive summary
…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 of lower Russian piped gas exports to the European Union, slower growth in liquefied natural gas (LNG) output and higher storage injection needs in Europe. This supported higher natural gas prices in key import markets and weighed on natural gas demand in Asia. Meanwhile, geopolitical tensions continued to fuel price volatility…
