LNG

The International Energy Agency said Russia’s continued curtailment of natural gas flows to Europe had pushed international prices to “painful” new highs, disrupted trade flows and led to acute fuel shortages in some emerging and developing economies.

Global natural gas demand is expected to rise by 3.6 percent in 2021 before easing to an average growth rate of 1.7 percent over the following three years, though by 2024 demand is forecast to be up 7 percent from 2019 pre-Covid-19 levels, according to the latest quarterly Gas Market Report from the Paris-based International Energy Agency.