IEA expects major shifts in global gas trade
The next five years will bring a reshaping of the global gas trade, according to the International Energy Agency (IEA). In its Medium-Term Gas Market Report, issued on Wednesday 8 June, the organisation said that new LNG supplies were coming online just as demand growth in some major markets weakened, resulting in “major shifts” in global gas trade patterns. The report expected that, by the end of the forecast period (2021), global gas demand would be increasing by 1.5%/ year, compared with the 2%/ year increase expected in last year’s outlook. It said slower primary energy demand growth and the decline in the energy intensity of the world economy were reducing demand growth.