The global demand for natural gas in the coming years will mainly be driven by countries in Asia. The International Energy Agency (IEA) writes this in a report on the gas market.
According to the IEA, global demand for natural gas increased by 4.6 percent in 2018, which is the fastest pace since 2010. For the next five years, the agency expects demand to grow by more than 10 percent to more than 4.3 trillion cubic meters in 2024.
China in particular plays a major role in increasing demand, driven by the government’s goal to move away from coal in the fight against air pollution. In 2018 there was an 18 percent increase in Chinese gas demand, although this pace will slow down in the coming years due to the slower growing Chinese economy.
Other Asian countries with a strong rising demand for gas are, for example, Bangladesh, India and Pakistan, according to the IEA.