IEA: Global Gas Market Fundamentals 'Remain Fragile'

January 27, 2025--Written by John Egan for Industrial Info Resources (Sugar Land, Texas)--Global natural gas consumption rose at a faster-than-average pace of 2.8% in 2024, to a record 4,212 billion cubic meters (Bcm), or about 148.7 trillion cubic feet (Tcf), according to a new first-quarter global gas report from the International Energy Agency (IEA) (Paris, France). The IEA predicted further worldwide demand growth of slightly under 2%, to 4,292 Bcm (151.6 Tcf), in 2025.

North America (mainly the U.S.) remained the world's leading gas consumer, using about 1,178 Bcm (41.6 Tcf) in 2024. This year, the IEA predicted North American gas consumption would reach approximately 1,183 Bcm (41.7 Tcf). The IEA report said U.S. gas use was about 946 Bcm (33.4 Tcf) last year and will dip slightly to about 944 Bcm (33.37 Tcf) in 2025.