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IGU report: World gas demand set to reach record levels in 2025

The 2025 Global Gas Report, released by the International Gas Union and Italian gas pipeline firm Snam on Wednesday, shows that global natural gas demand will continue to grow by 1.7% by 2025, after reaching a record in 2024. This is because consumers are using more gas for transportation, industry and power generation.

The report predicted that global gas demand in 2025 would increase by 71 billion cubic metres to 4,193 bcm. This is after a rise of 78 bcm or 1.9% to a record high 4,122 bcm. The report stated that the lower growth forecast in 2025 than in 2024 was mainly due to a slightly slower growth of demand in Asia in 2025.

The record demand for 2024 is approximately 11.3 billion cubic meters per day (399.3 billion cubic feet per day).

The report revealed that the growth of global gas demand in the first half 2025 will be mainly in Europe and North America. These regions are expected to grow by 6.1% and 1.5 % respectively.

The report notes that the rapid growth of artificial intelligence data centers in the United States, which is expected to account for 1.7% of global electricity consumption in 2025 and 1.5% in 2024, makes it difficult to predict future energy demand.

The report states that the LNG trade expanded this year. This was boosted by the sharp increase in European imports. These increased by 12 bcm (23,6%) compared to 2024's first half. They were mainly imported to meet the regional demand for storage and injection, as well as to meet the needs of the region. The global LNG trade reached a record of 555 bcm by 2024.

Reports showed that the global energy demand was likely to increase over the next decade. This would be especially true in China and India, where a surge in power consumption is expected. Reporting by Scott DiSavino, New York; editing by Lisa Shumaker

(source: Reuters)