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Global gas markets to remain tight well into 2023, IEA says

IEA Europe Russia

Global natural gas markets will likely remain tight well into 2023, the International Energy Agency has said [File: Hannibal Hanschke/Reuters]

Global natural gas markets will likely remain tight well into 2023 as Russia restricts supplies and Europe cuts usage amid high prices and energy saving measures, the International Energy Agency (IEA) has said.

Global gas consumption is expected to drop by 0.8 percent in 2022 – the result of a record 10 percent contraction in Europe and static demand in the Asia-Pacific – and grow just 0.4 percent next year, the IEA said in its quarterly gas market report on Monday.

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