Global natural gas markets are facing the largest demand shock in recorded history. According to the International Energy Agency’s (IEA) new Gas 2020 report, consumption of natural gas is expected to drop by twice the amount it did after the 2008 financial crisis. The coronavirus pandemic and an exceptionally mild winter in the northern hemisphere are setting the stage for the largest recorded demand shock in the history of global natural gas markets, the agency said. Global natural gas demand is expected to drop by 4 percent year on year, or by 150 billion cubic meters, in 2020. This would represent twice the amount of demand lost after the 2008 financial crisis. Gas demand in all regions will be hit, but the biggest impact will be felt in mature markets across Europe, North America, Asia, and Eurasia which together will account for about 75 percent of lost gas consumption […]