The Gas Exporting Countries Forum (GECF) announced the release of the Annual Gas Market Report (AGMR) 2025, which offers a comprehensive and insightful analysis of the key trends and developments that shaped the global gas market in 2024, while also providing short-term projections for the natural gas industry.
The following are some key findings of the AGMR 2025:
• Global gas consumption grew by 2.5% in 2024, reaching a record high of 4,170 bcm, driven regionally by Asia Pacific and sectorally by the power generation and industrial sectors, supported by steady global economic growth, increased demand for heating and cooling, and lower gas prices.
• Global gas production kept pace with rising gas demand, with supply growth driven by Eurasia, the Middle East, and Asia Pacific and GECF member countries continuing to play a key role in meeting global gas needs.
• Global gas trade rebounded by 4% to 1.17 tcm, supported by increased volumes in both pipeline gas and LNG segments, with Asia reinforcing its position as the leading gas-importing region.
• Pipeline gas trade expanded by 6% to 606 bcm, ending a two-year decline, with growth observed across most major regions, including Asia Pacific, Europe, and North America.
• The global LNG market remained relatively tight, with LNG trade growing by just 1% to 412 Mt, as the Republic of Congo and Mexico emerged as new LNG exporters, while global liquefaction capacity is projected to expand by significant 206 Mtpa between 2025 and 2028.
• Spot gas prices stabilized, contrasting sharply with the extreme volatility of the previous four years, as TTF spot prices averaged $11/MMBtu in 2024, down from $13 in 2023, $38 in 2022, and $16 in 2021.
• Global gas demand is projected to grow by 2% in both 2025 and 2026; however, risks to this outlook are tilted to the downside, particularly in light of the sweeping and unprecedented tariffs announced by the United States on April 2, 2025 and their subsequent adverse impacts, which are not factored into the current report.
Please visit the dedicated page for the full report: https://www.gecf.org/events/gecf-unveils-the-annual-gas-market-report-2025