Global natural gas markets reached an all-time high last year and are set to remain tight in 2025 despite an ongoing rebalancing following the supply shock of 2022/23, the International Energy Agency (IEA) states. In 2024, global gas demand rose by 2.8%, or 115-billion cubic metres, which was well above the 2% average growth rate between 2010 and 2020. At the same time, below-average growth in liquefied natural gas (LNG) output kept supply tight, while extreme weather events added to market strains.
