Global demand for gas should keep rising this decade, but growth has become more uncertain amid surging prices, security of supply concerns and a weakening economic outlook, according to a report by S&P Global Ratings.
Key takeaways include:
Gas demand in Europe is predicted to fall over the coming decade, according to forecasts by S&P Global Commodity Insights (Platts). Europe is accelerating the shift to renewables and greener gases, which may account for 20 percent of European gas demand by 2030 if the European Union achieves its REPowerEU goals.
Despite concerns regarding supply and interruption risk, gas still has an important role to play in helping to backup intermittent power supply from renewables.
Global demand for gas should keep rising through 2030, supported by strong demand in Asia Pacific. However, in China gas's comparative price disadvantage versus coal and nuclear power generation means that gas will represent only 9 pe