UPDATED 1 Sept: The EI library in London is temporarily closed to the public, as a precautionary measure in light of the ongoing COVID-19 situation. The Knowledge Service will still be answering email queries via email , or via live chats during working hours (09:15-17:00 GMT). Our e-library is always open for members here: eLibrary , for full-text access to over 200 e-books and millions of articles. Thank you for your patience.
New Energy World™
New Energy World™ embraces the whole energy industry as it connects and converges to address the decarbonisation challenge. It covers progress being made across the industry, from the dynamics under way to reduce emissions in oil and gas, through improvements to the efficiency of energy conversion and use, to cutting-edge initiatives in renewable and low-carbon technologies.
The coming glut of gas
5/3/2025
10 min read
Feature
At London’s International Energy Week in February, speakers from the International Energy Agency (IEA), BP and Shell predicted a large increase in natural gas reaching global markets by the end of the decade. At the same time, they, and others, highlighted the importance of reducing methane emissions in producing those fossil-fuel projects, reports New Energy World Senior Editor Will Dalrymple.
While the main theme of IEA Director General Fatih Birol’s speech at the Energy Institute event was about the coming of the age of electricity, he also predicted a near-term bump in gas. Natural gas reaching the market from the end of next year until 2030 would increase current LNG volumes by up to 50%, some 250bn m3. The source of the gas is mainly the US – which recently lifted a temporary ban on LNG export – but also Qatar, and a bit from Canada and some African countries.
Birol added: ‘If all goes well and there are no major shake-ups in the world, gas markets will likely turn from a market of the sellers to buyers. That may have implications for the gas prices, and of course they have a link to electricity prices. This will be a change in gas markets.’
The occasion, he speculated, might spark a decision from some eastern European countries to consider replacing the Russian gas they continue to buy with other sources.