The softening of market conditions in 2023 stemmed primarily from the demand side, attributed to the rapid expansion of renewables, and improved nuclear availability, particularly impacting European and mature Asian markets. [...] Global gas demand is anticipated to surge by 2.5% in 2024, primarily concentrated in rapidly expanding markets in Asia Pacific and gas-rich regions in Africa and the Middle East. [...] Despite marginal growth in natural gas consumption in the industry sector, driven by a second-half recovery in 2023, declines recorded in the first half of the year outweighed the overall increase. [...] Looking ahead to 2024, natural gas markets are expected to see strong growth, driven by the industrial and power sectors in fast-growing economies in Asia and gas-rich countries in Africa and the Middle East. [...] In conclusion, natural gas markets are expected to see a return to strong growth in 2024, primarily driven by the industrial and power sectors in fast growing economies in Asia and gas-rich countries in Africa and the Middle East.
Authors
- Pages
- 6
- Published in
- Azerbaijan
