IEA: High Gas Prices Could Crush Demand Growth ...Middle East

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IEA: High Gas Prices Could Crush Demand Growth
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Tight supply and energy security uncertainty have pushed natural gas prices to record highs, prompting a reversal of the expected strong increase in demand over the next five years, the International Energy Agency has reported. In its third-quarter Gas Market Report, released today, the IEA said that it expected gas consumption to decline this year because of the price situation. Over the five years to 2025, the IEA sees gas consumption rising by a total of 140 billion cu m. This is down from a total gas demand expansion of 370 billion cu m over…

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