The war in Ukraine has affected prospects for gas, exposing unreliability and problems with its availability. Therefore, consumers are starting to switch to alternative options.
Gas consumption in Europe in 2022 will decrease slightly due to high prices and reducing supplies of resources from Russia. At the same time, the forecast for global demand for gas was cut by more than half. This is stated in the quarterly report on gas markets of the International Energy Agency (IEA).
They also believe that gas consumption growth will slow in the coming years as consumers switch to alternative options.
In particular, by 2025, growth is expected of only 3.4%, which is more than 140 billion cubic meters than in 2021. However, this figure is lower than the demand surge of 175 billion cubic meters recorded in 2021.
The IEA report explains that the war in Ukraine has significantly affected the outlook for natural gas.
“Today’s price records and supply disruptions are damaging natural gas’s reputation as a reliable and affordable energy source, causing uncertainty about its prospects,” the agency said, adding that it is especially true for developing countries.
Earlier it was reported that in June the United States for the first time surpassed the Russian Federation in gas exports to Europe. Russia drastically reduced supplies, and the United States continued to export liquefied gas.
Russia’s gas share in Europe may be the lowest in 20 years – IEA
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.