Global gas demand to rise
OIL & GAS

Global gas demand to rise

According to the International Energy Agency (IEA), global gas demand is projected to grow by 2.5% in 2024. This increase is driven by the recovery in energy consumption as economies worldwide continue to rebound post-pandemic. However, supply constraints in certain regions could challenge this growth.

The imbalance between rising demand and restricted supply is expected to lead to higher gas prices, making it difficult for countries to secure stable energy sources. Factors contributing to the supply constraints include geopolitical tensions, logistical challenges, and production issues in key gas-exporting nations.

The rise in gas demand is expected to be particularly noticeable in regions with heavy industrialization and power generation needs. At the same time, European countries and parts of Asia are focusing on diversifying energy sources to avoid over-reliance on gas, accelerating the adoption of renewable energy.

Nonetheless, the transition to greener alternatives remains gradual, and natural gas is still considered a crucial bridge fuel. The IEA’s report highlights the importance of long-term investments in cleaner energy solutions to ease the pressure on gas demand and mitigate environmental impacts. The global energy landscape is shifting, but gas is set to play a key role in meeting the energy needs of the near future.

According to the International Energy Agency (IEA), global gas demand is projected to grow by 2.5% in 2024. This increase is driven by the recovery in energy consumption as economies worldwide continue to rebound post-pandemic. However, supply constraints in certain regions could challenge this growth. The imbalance between rising demand and restricted supply is expected to lead to higher gas prices, making it difficult for countries to secure stable energy sources. Factors contributing to the supply constraints include geopolitical tensions, logistical challenges, and production issues in key gas-exporting nations. The rise in gas demand is expected to be particularly noticeable in regions with heavy industrialization and power generation needs. At the same time, European countries and parts of Asia are focusing on diversifying energy sources to avoid over-reliance on gas, accelerating the adoption of renewable energy. Nonetheless, the transition to greener alternatives remains gradual, and natural gas is still considered a crucial bridge fuel. The IEA’s report highlights the importance of long-term investments in cleaner energy solutions to ease the pressure on gas demand and mitigate environmental impacts. The global energy landscape is shifting, but gas is set to play a key role in meeting the energy needs of the near future.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Vedanta Metal Bazaar Expands to Global Markets

Vedanta Aluminium has expanded its digital e-commerce platform, Vedanta Metal Bazaar, to international markets, enabling overseas customers to order and purchase aluminium products online.The platform will now be available to buyers across Asia, Europe, Africa and the Americas, providing a digital gateway for export transactions with 24x7 access.In FY26, Vedanta Metal Bazaar processed transactions worth nearly $4.1 billion, or over Rs 380 billion, and fulfilled more than 23,000 orders. The platform is also used regularly by more than 550 MSMEs in India alongside large OEM customers.The export ..

Next Story
Infrastructure Urban

Ramky Infrastructure Q1 FY27 Revenue Rises 24.3%

Ramky Infrastructure Limited reported a 24.3% year-on-year increase in consolidated revenue from operations to Rs 471.2 crore for Q1 FY27, compared with Rs 3.79 billion in the corresponding quarter of FY26.Standalone revenue from operations rose 27.5% YoY to Rs 4.51 billion from Rs 3.54 billion, while total standalone income increased 35% to Rs 5.32 billion.Consolidated profit before tax stood at Rs 540.9 million during the quarter. The company highlighted a sharp sequential improvement compared with a pre-exceptional loss of Rs 190.1 million in Q4 FY26.Two of the three projects awarded during..

Next Story
Technology

LTTS Launches AgenticIQ AI Platform for Engineering

L&T Technology Services (LTTS) has launched AgenticIQ, an end-to-end agentic AI platform designed for engineering and manufacturing organisations.The platform is aimed at helping enterprises move beyond isolated AI pilots by enabling autonomous, multi-agent workflows across engineering, product development, manufacturing, industrial operations and customer experience.AgenticIQ is built on LTTS’ Engineering Intelligence portfolio and converts existing engineering capabilities into specialised, reusable AI agents. Its planning-first architecture is embedded into engineering and production ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement