The era of rapid global growth in natural gas demand is drawing to a close, according to the IEA’s World Energy Outlook 2022 report.
It points to the depth and intensity of today’s crisis, which have led to concerns about the future cost and availability of natural gas, damaging confidence in its reliability and putting “a major dent” in the idea of it serving as a transition fuel.
Global natural gas demand in 2050 in this year’s version of the Stated Policies Scenario (STEPS) is 750 bcm lower than projected in last year’s version.
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