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Leonore Gewessler
Minister of Climate Action, Environment, Energy, Mobility, Innovation and Technology.
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Rebecca McKimm
China Programme Manager.
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Jean-Pierre Clamadieu
Chairman of the Board of Directors.
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Financing the Modernisation of Power Systems Beyond Coal Executive summary
…strategies: heightened volatility in gas markets, driven in large part by conflict in the Middle East, has increased the short-term economic value of existing coal assets. At the same time, interest has grown in new financing mechanisms that could help accelerate coal transitions. Transition credits are one such option that have received increasing attention in the energy and carbon markets community in Southeast Asia. This report examines how transition credits could be designed to accelerate a coal transition for those countries seeking to do so, while maintaining energy security and grid reliability. This report focuses primarily on Southeast Asia…
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Global Energy Review 2026 Natural gas
Natural gas demand growth slowed in 2025 Following a strong increase of 2.8% in 2024, global gas demand growth slowed significantly in 2025 amid weaker industrial activity and relatively high spot liquefied natural gas (LNG) prices in the first half of the year. Demand increased by 1% in 2025, translating to an increase of around 40 bcm (or 1.4 EJ) in absolute terms. Incremental demand was largely concentrated in the United States and the European Union – where it was supported by colder winter weather – and in the Middle East, where gas use in the power sector grew rapidly…
- Key findings
- Global trends
- Oil
- Natural gas
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+ 9 pages
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World Energy Outlook 2022 Outlook for gaseous fuels
…fuel. As a result, the era of rapid global growth in natural gas demand is drawing to a close. In the Stated Policies Scenario (STEPS), demand rises by less than 5% between 2021 and 2030, compared with a 20% rise between 2011 and 2020. It then remains flat from 2030 at around 4 400 billion cubic metres (bcm) through to 2050, with growth in emerging market and developing economies offset by declines in advanced economies. In the Announced Pledges Scenario (APS), demand soon peaks and is 10% lower than 2021 levels by 2030. In the Net Zero Emissions by 2050 (NZE) Scenario…
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Gas Market Lessons from the 2022-2023 Energy Crisis Impact analysis of the two largest LNG import regions
…LNG. From 2015 to 2021, the share of short-term and spot-traded LNG imports grew from 10% to about 40% – a share that kept growing through the crisis years to reach 46% in 2024. This allowed importers and buyers to forgo an element of volume risk in their contracting while taking on an element of price risk in cases of immediate and unforeseen demand requirements.Equally central to the continent’s natural gas landscape is its extensive underground gas storage capacity, totalling about 100 bcm, spread across 19 EU member states and a handful of non-EU markets. Given…
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Global Energy Review 2026 Key findings
…growth and slower growth in energy-intensive industries in some regions, lower cooling demand, and faster efficiency improvements all contributed to slower demand growth.Solar PV, the largest single source of growth, met more than 25% of higher demand, followed by natural gas, which contributed 17%. This was the first time on record that a modern renewable source contributed the largest share of global energy demand growth. Demand for oil, natural gas and coal all grew in 2025, but at a slower rate than in 2024. Low-emissions sources combined – solar, wind, nuclear, hydropower and other renewables – contributed nearly 60%…
- Key findings
- Global trends
- Oil
- Natural gas
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+ 9 pages
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Global Energy Review 2026 Oil
…but this 0.7% rise marked a further slowdown from 2024’s already-muted 0.75 mb/d of growth. The increase in both years was in line with IEA projections. The 2025 increase fell well short of the 2010-19 average annual rise of 1.4 mb/d, offering further evidence of a structural deceleration in oil markets.This slowdown mainly reflected weaker growth in petrochemical feedstock use. Demand for naphtha, liquefied petroleum gas (LPG) and ethane – the major raw materials for plastics consumption – lagged most clearly in the second quarter of 2025 as trade turmoil weighed on international…
- Key findings
- Global trends
- Oil
- Natural gas
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+ 9 pages
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Oil 2025 Executive summary
…oil market dynamics have been defined by the parallel growth in US oil supply and Chinese oil demand. From 2015 to 2024, the United States accounted for 90% of the increase in global supply, with the shale boom lifting US oil production by more than 8 mb/d to over 20 mb/d. At the same time, Chinese oil demand rose by nearly 6 mb/d, accounting for 60% of the global increase in oil use. The picture to 2030 looks very different. Following an extraordinary surge in EV sales, the continued deployment of trucks running on liquified natural gas…
