Demand for gas in the EU may decrease by another 15% by 2030, to 305 billion cubic meters, according to the International Energy Agency (IEA) World Energy Outlook 2023.
“The European Union reduced its natural gas demand by an historic 55 bcm in 2022, equivalent to 13% of total demand in 2021. In the Stated Policies Scenario (STEPS), continued efforts to decrease demand yield a further 50 bcm reduction by 2030,” reads the report.
Gas demand in the EU in 2021 amounted to 413 billion cubic meters, in 2022 it decreased to 358 billion, and in 2030 it may reach 305 billion cubic meters. At the same time, global gas demand may increase by 140 billion cubic meters, from 4.159 trillion in 2022 to 4.299 trillion in 2030.
“In the STEPS, natural gas demand growth between 2022 and 2030 is much lower than the 2.2% average rate of growth seen between 2010 and 2021 (3.326 trillion and 4.218 trillion, respectively). It reaches a peak by 2030, maintaining a long plateau before gradually declining by around 100 bcm by 2050,” reads the document.
Global demand remained muted in the first half of 2023; China’s recovery has been uneven, while a retreat from record natural gas prices in Europe so far has not reinvigorated gas consumption in the industry or power sectors.
The crisis prompted a scramble by gas importing countries around the world to secure supplies. This has boosted near-term prospects for additional investment, especially for liquefied natural gas (LNG) export projects.
“But responses to the crisis have also laid the groundwork for a more rapid shift away from natural gas in Europe and the United States, while more upbeat projections for renewables imply weaker natural gas demand growth, especially in emerging markets in Asia.”
https://report.az/en/energy/iea-demand-for-gas-in-eu-may-decrease-15-by-2030/