Global Gas Security Review 2024
Global gas markets are experiencing growth post-supply shock, with demand projected to reach record highs in 2024 and 2025, despite ongoing geopolitical tensions and fragile supply conditions.
(Generated with the help of GPT-4)
| Quick Facts | |
|---|---|
| Report location: | source PDF |
| Publication date: | October 2024 |
| Language: | English |
| Publisher: | International Energy Agency |
| Authors: | Akos László, Carole Etienne, Frederick Ritter, Marc Casanovas Simo, Takeshi Furukawa, Gergely Molnár |
| Time horizon: | 2025 |
| Geographic focus: | Global |
Methods
The research method involved a comprehensive analysis of global gas supply and demand trends, LNG contracting patterns, and market developments, utilizing data from various sources, including the IEA's internal databases and market reports.
(Generated with the help of GPT-4)
Key Insights
The Global Gas Security Review 2024 by the International Energy Agency (IEA) assesses the current state of global gas markets following the supply shock of 2022/23. It highlights a return to growth, with global gas demand expected to hit new highs in 2024 and 2025, primarily driven by Asia. However, the report notes that the global gas balance remains fragile due to limited growth in liquefied natural gas (LNG) supply and ongoing geopolitical tensions, which have resulted in price volatility. Key shipping routes, such as the Panama Canal and the Red Sea, have faced constraints, raising concerns about LNG trade vulnerabilities. The report emphasizes the need for collaboration among producers and consumers to enhance global gas supply security. It also discusses the importance of low-emissions gases in the decarbonization of the energy system, particularly in the transport sector. The IEA's quarterly Gas Market Report provides insights into market developments and short-term outlooks, indicating that while demand is increasing, supply growth is lagging, necessitating higher LNG imports and potential competition for flexible cargoes.
(Generated with the help of GPT-4)
Additional Viewpoints
Categories: 2020s time horizon | 2025 time horizon | 2024 publication year | English publication language | Global geographic scope | contracting trends | energy security | gas demand | gas pricing | geopolitical tensions | lng supply | low-emissions gases | market volatility | shipping constraints | transport sector