IEA report sees huge gas market shifts
The International Energy Agency (IEA) has published its 2016 medium-term gas market report. “The next five years will bring a reshaping of the global gas trade,” it reports.
“We see massive quantities of LNG exports coming on line while, despite lower gas prices, demand continues to soften in traditional markets,” Fatih Birol, IEA Executive Director, says.
The annual IEA report gives analysis and five-year projections of natural gas demand, supply and trade developments. It sees global demand rising by 1.5% per year for the next five years, which compares to the 2% projected in last year’s annual report.
Slower primary energy demand growth and the decline in the energy intensity of the world economy are lessening demand growth for all fossil fuels, including gas, the report says.
page source http://ec.europa.eu/energy/
