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A senior analyst at the International Energy Agency (IEA) said at Tuesday's European Gas Conference that global gas demand is expected to grow by 2.
8 percent, or about 110 billion cubic meters, this year, back to 2019 levels
.
Jean-Baptiste Dubreuil, senior gas analyst at the IEA, said the global gas market recorded its biggest decline on record last year, with consumption falling by about 100 billion cubic meters
due to mild weather at the beginning of the year and the COVID-19 pandemic weighing down energy demand.
Dubreuil added that gas demand is still proving to be more resilient
than other energy sources such as oil.
LNG spot prices due to the pandemic, which hit record lows, have rebounded to record highs this year due to rising temperatures and supply issues
.
"Natural gas demand is more sensitive to temperature than other fuels," Dubreuil said, adding that while global gas demand is expected to pick up this year, there will be no major rebound, and more mature markets will only recover gradually, with some still not returning to 2019 levels
.
He also said that new opportunities and challenges
are expected in the context of uncertain LNG demand in the medium term.
A senior analyst at the International Energy Agency (IEA) said at Tuesday's European Gas Conference that global gas demand is expected to grow by 2.
8 percent, or about 110 billion cubic meters, this year, back to 2019 levels
.
Jean-Baptiste Dubreuil, senior gas analyst at the IEA, said the global gas market recorded its biggest decline on record last year, with consumption falling by about 100 billion cubic meters
due to mild weather at the beginning of the year and the COVID-19 pandemic weighing down energy demand.
Dubreuil added that gas demand is still proving to be more resilient
than other energy sources such as oil.
LNG spot prices due to the pandemic, which hit record lows, have rebounded to record highs this year due to rising temperatures and supply issues
.
"Natural gas demand is more sensitive to temperature than other fuels," Dubreuil said, adding that while global gas demand is expected to pick up this year, there will be no major rebound, and more mature markets will only recover gradually, with some still not returning to 2019 levels
.
He also said that new opportunities and challenges
are expected in the context of uncertain LNG demand in the medium term.
