Global natural gas demand set for slow growth in coming years, IEA report shows

Global natural gas consumption is expected to contract slightly this year and grow slowly over the following three years as Russia’s war in Ukraine pushes up prices and fuels fears of further supply disruptions, the International Energy Agency (IEA) states in its latest ‘Gas Market Report’.  The IEA notes that the current record high gas prices are depressing demand and causing some gas users to switch to coal and oil, while recent sharp cuts in Russian gas flows to Europe are raising alarms about supplies ahead of the northern winter.