IEA: Gas Market Report. Q1 – 2025

Global consumption of natural gas returned to structural growth in 2024, reaching an all -time high. Gas demand is expected to increase further in 2025, primarily supported by fast -growing Asian markets. At the same time, the global gas balance remains fragile, with the supply side remaining tight and geopolitical tensions continuing to fuel price volatility. While the halt of Russian piped gas transit via Ukraine on 1 January 2025 should not pose an imminent supply security risk for the European Union, it could increase the EU’s LNG import requirements and tighten market fundamentals this year.

This edition of the quarterly Gas Market Report by the International Energy Agency (IEA) provides a thorough review of market developments in 2024 and an outlook for 2025. As part of the IEA’s Low -Emissions Gases Work Programme, the report includes a section dedicated to policy and market developments related to biomethane, low -emissions hydrogen and e -methane.

The current gas market context highlights the need for responsible producers and consumers to work together to reinforce the architecture for secure global gas supplies. To support this, the IEA established in late 2024 a permanent Working Party on Natural Gas and Sustainable Gases Security (GWP), building on the Agency’s longstanding gas security activities, including the work of the Task Force on Gas and Clean Fuels Market Monitoring and Supply Security.

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