Global natural gas demand reached a record high in 2024 and is projected to grow further in 2025, according to the International Energy Agency’s (IEA) Gas Market Report Q1-2025.
Demand rose by 2.8% year-on-year in 2024, driven largely by robust economic expansion. Industrial uses and energy sector demand were the primary contributors to this growth, with Europe’s industrial gas consumption also showing signs of recovery.
Looking ahead, liquefied natural gas (LNG) supply is expected to grow by 5% in 2025, adding over 25 billion cubic meters, driven by large-scale projects in North America. Africa and Asia are also set to contribute to this growth, supporting rising global demand. This marks an acceleration from the 2.5% growth in 2024, impacted by project delays and feed-gas supply issues in regions such as Angola, Egypt and Trinidad and Tobago.
The IEA emphasized the need for strategic investments in gas storage and supply flexibility to meet future demand, particularly as global market conditions remain tight heading into 2025.
