Global Gas Demand to Grow by 1.6% till 2024

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Global gas demand is expected to grow at a rate of 1.6% a year until 2024, according to a report by Reuters.

This growth will be fueled by Chinese consumption which will account for over a third of the demand growth during the period, the International Energy Agency said on Friday.

China’s gas demand growth is seen at an average rate of 8%, down from the two-digit growth rate in recent years as its economic growth slows, but would still account for around 40% of the global demand increase in the coming years, said Keisuke Sadamori, IEA Director for Energy Markets & Security.

The Asia-Pacific region will remain the largest source of gas consumption growth in the medium term with an average rate of 4% per year, and will account for around 60% of the total consumption increase until 2024.

Demand from America, Asia and, the Middle East will also contribute to the global average according to the report.

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