Global gas consumption in 2025 will exceed 2024 data. By 2030, consumption is expected to reach 4.7 trillion cubic meters. Natural gas consumption in Russia will increase by 5.2% in 2024. „Gazprom“ also expects total global gas consumption to increase, reaching 4.3 trillion cubic meters by the end of 2024. m.
„This is the highest growth rate in the last 10 years among the leading energy resources that shape the global energy sector. I can say that we expect a new record by 2025. I quoted you 4.3 trillion cubic meters – this is the figure for 2024. In 2025, we expect the record to be even higher. And by 2030, we expect global gas consumption to reach 4.7 trillion cubic meters,“ said Gazprom CEO Alexei Miller in an interview with the Rossiya-24 TV channel.
He specified that the gas intensity of the world economy will increase. “This year we have seen impressive figures that show an increase in gas intensity in the world economy.” I mean both in terms of specific indicators and in terms of absolute consumption,“ emphasized the Gazprom head.
The architecture of the world gas market in the near future will be shaped by Russia as the largest producer and China as the largest consumer. “If we talk about the regional aspect, then, without a doubt, the architecture of the gas market in the very near future will be determined by the largest gas producer – Russia and the largest gas consumer – China“, he said.
Miller noted that this situation is due to objective market factors. He emphasized that these two countries will determine the further development of the gas market.
In his analysis, the Gazprom CEO paid special attention to the countries of the Global South, noting the impressive growth rates of gas consumption in this region. He cited statistics according to which the share of these countries in the world gas balance has increased from 45% to 60% over the past 25 years.
Miller predicts a further strengthening of the role of the Global South in the gas industry, suggesting that in 25 years their share will reach 70% of the world gas balance.