In the recent International Energy Agency report “Global Gas Security Review 2024”, major takeouts on natural gas security, liquidity and pricing show that whilst the “golden age of gas” may have a specific historical connotation, natural gas retains a vital and medium term irreplaceable role in the energy value chain.
Gas demand is on the rise, and is expected to reach an all time high of 4200bcm. Whilst APAC energy and industrial growth is a major driver, the rise in demand for gas in the European industry should be recognised. Gas might not regain the place it once did in the EU due to a combination of geopolitical friction and EU industrial policy, this growth shows that European industry will remain an important consumer of natural gas and will need secure supply to underwrite the €millions of employment and broader socioeconomic value.