- The International Energy Agency (IEA) has predicted that global gas markets will remain tight next year as Russian piped gas supplies dwindle despite gas demand falling in Europe in response to high prices and energy saving measures.
- Global natural gas markets have been tightening since 2021 despite global gas consumption declining by 0.8% this year as a result of a record 10% contraction in Europe and flat demand in the Asia Pacific region.
- The IEA has predicted EU gas storage would be less than 20% full in February if LNG supply remains robust in the event that Russian supply to Europe completely stops from Nov. 1, but could go as low as 5% full by February if LNG supply dwindles.
IEA: Global Gas Markets To Remain Tight Through 2023
