Despite some uptick in consumption in recent months, the world’s demand for natural gas is still set to see its biggest drop on record in 2020, the International Energy Agency (IEA) said on Monday. According to the agency’s new report, Global Gas Security Review 2020, global natural gas demand is set to decline by 3 percent, or by 120 billion cubic meters (bcm), this year, the largest drop ever. Four months ago, the IEA had forecast that natural gas demand would drop by 4 percent year on year in 2020, or by 150 billion cubic meters. This would represent twice the amount of demand lost after the 2008 financial crisis, the IEA said back then. 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 […]

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