the International energy Agency (IEA) predicts in the current year, the largest in the history of the fall in world demand for natural gas by 150 billion cubic meters, or 4%.
“In 2020, the global market for natural gas can survive a major demand shock in its history… is Expected to record a fall in the demand for natural gas, pandemic COVID-19 strikes the already weakened market… Global demand for natural gas could amount to about 150 billion cubic meters per year, or 4% on an annualized basis”, — quotes RIA “news” endurances from the report of IEA.
the Agency believes that the crisis caused by the pandemic coronavirus infection COVID-19, will by 2025 every year to slow the growth of demand for gas in the world by an average of 75 billion cubic meters. Against this background, the IEA has adjusted its forecast on the average annual growth in gas demand until 2025, it now is expected at 1.5% against the earlier forecasted 1.8 percent, said ITAR.
the report also predicted that the volume of world trade in liquefied natural gas (LNG) in 2025 will reach 585 billion cubic meters, which is 21% more than in 2019, and during this period the market expected significant changes: the largest buyer of liquefied natural gas in 2023, China will, and in 2025 the United States will take the position of the first largest seller of this product.
the IEA also expects Russia in the period up to the end of 2025 will be able to strengthen its position as the largest gas exporter in the world. “Russia is expected to be the second largest source of increasing supply in the gas market after the United States during the forecast period, representing one-fifth of world growth rate from 2019 to 2025. The growth of production at 1.7% annually will be almost entirely supported export projects, further strengthening the position of Russia as the largest gas exporter in the world,” the report States.
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