IEA: EU demand for natural gas to reach 408 bcm by 2040

Baku. 13 November. REPORT.AZ/ Demand for natural gas in the European Union for natural gas will drop by mid-2020 and reach 408 billion cubic meters by 2040, which is 16.4% less than 2017, according to the World Energy Outlook of the International Energy Agency (IEA).

Report informs citing Russian media that the IEA said gas import in Europe will grow up to 86% by 2025 due to decline in local production inside the EU.

The IEA expects global gas demand to grow by 45% to 5.399 trillion cubic meters by 2040, especially in China and the Middle East.

The demand in China will triple to 710 billion cubic meters, in the Middle East 60% to 794 billion cubic meters. India’s demand will triple to 171 billion cubic meters, while demand in South Eastern Asian countries will grow  1.7-fold to 170 billion cubic meters.

In general, the gas production around the world will grow by 43% to 5.399 trillion cubic meters. According to the IEA, shale gas will account for half of the growth.