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Gas Market Report, Q2-2025 Executive summary
Global gas demand growth is expected to slow in 2025 amid macroeconomic uncertainties Following the gas supply shock of 2022/23, natural gas demand returned to structural growth in 2024 and continued to expand through the 2024/25 heating season. Growth was primarily concentrated in Europe and North America, with weather conditions, including lower temperatures, leading to stronger gas use in buildings and the power sector. In contrast, gas demand growth slowed in Asia amid higher spot liquefied natural gas (LNG) prices and a milder winter in the People’s Republic of China (hereafter “China”). Tighter market fundamentals put upward…
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Magdalena Sanocka
CETP Programme Officer.
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Gas Market Report, Q2-2026 Executive summary
The Middle East conflict has disrupted gas market fundamentals and is changing the medium-term outlook The war in the Middle East is sending shockwaves through energy markets. The easing of fundamentals in international natural gas markets in early 2026 was abruptly disrupted by the de facto closure of the Strait of Hormuz at the beginning of March, which has created unprecedented uncertainty.The crisis has profoundly distorted short-term market fundamentals and is altering the medium-term outlook for natural gas. The loss, for the time being, of almost 20% of global LNG supply has caused strong price volatility, driving…
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Veeman Buell
Global Head of Product Management & Strategy, Grid Integration.
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Ebio Vitor
Former Energy Data Officer.
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Nathaniel Lewis-George
Former Southeast Asia Programme Officer. Nathaniel Lewis-George supports IEA engagement through the Clean Energy Transitions Programme (CETP) with IEA Association Countries in Southeast Asia - Indonesia, Thailand, and Singapore - as well as ASEAN. This includes project management, programme coordination and delivery, and strategic outreach and advice.
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Gil Quiniones
President and Chief Executive Officer of the New York Power Authority. Gil Quiniones has led the New York Power Authority, the largest state-owned electric utility in the United States, since 2011. Mr Quiniones is also Co-Chair of the Board of Directors of the Alliance to Save Energy, and previously served as Chairman of the Board of Directors of the Electric Power Research Institute.
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Alessia Scoz
Junior Digitalisation Energy Analyst.
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Paolo Frankl
Head of the Renewable Energy Division.
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Ivan Haščič
Senior Economist, OECD Environment Directorate.
