Global gas quarterly: mild Winter keeps markets at ease

The mild winter kept gas markets at ease over the 2023/24 heating season. The above-average temperatures, together with the strong expansion of renewables and higher nuclear availability limited gas demand growth to around 2% yoy over the 2023/24 winter; Asian and European gas prices fell below their pre-crisis levels in Q1 2024, indicating that the market is recovering from the 2022/23 gas supply shock. Industry is set to account for almost 45% of global gas demand growth in 2024. China’s LNG imports are forecast to jump by almost 15%, recovering above their record 2021 levels; Europe closed the 2023/24 heating […]