{"id":117642,"date":"2023-10-11T07:40:56","date_gmt":"2023-10-11T04:40:56","guid":{"rendered":"https:\/\/tietopankki.crnet.fi\/fi\/news\/global-fossil-gas-demand-slowing-as-iea-signals-peak-expected-by-2030\/"},"modified":"2023-10-11T07:40:56","modified_gmt":"2023-10-11T04:40:56","slug":"global-fossil-gas-demand-slowing-as-iea-signals-peak-expected-by-2030","status":"publish","type":"post","link":"https:\/\/tietopankki.crnet.fi\/fi\/news\/global-fossil-gas-demand-slowing-as-iea-signals-peak-expected-by-2030\/","title":{"rendered":"Global fossil gas demand slowing as IEA signals peak expected by 2030"},"content":{"rendered":"<div class=\"mp_wrapper\">\n  <div class=\"mepr-unauthorized-message\">\n    <p>You are unauthorized to view this page.<\/p>\n  <\/div>\n  <div class=\"mepr-login-form-wrap\">\n            \n<div class=\"mp_wrapper mp_login_form\">\n                  <!-- mp-login-form-start -->     <form name=\"mepr_loginform\" id=\"mepr_loginform\" class=\"mepr-form\" action=\"https:\/\/tietopankki.crnet.fi\/fi\/login-2\/\" method=\"post\">\n            <div class=\"mp-form-row mepr_username\">\n        <div class=\"mp-form-label\">\n                              <label for=\"user_login\">Username<\/label>\n        <\/div>\n        <input type=\"text\" name=\"log\" id=\"user_login\" value=\"\" \/>\n      <\/div>\n      <div class=\"mp-form-row mepr_password\">\n        <div class=\"mp-form-label\">\n          <label for=\"user_pass\">Password<\/label>\n          <div class=\"mp-hide-pw\">\n            <input type=\"password\" name=\"pwd\" id=\"user_pass\" value=\"\" \/>\n            <button type=\"button\" class=\"button mp-hide-pw hide-if-no-js\" data-toggle=\"0\" aria-label=\"Show password\">\n              <span class=\"dashicons dashicons-visibility\" aria-hidden=\"true\"><\/span>\n            <\/button>\n          <\/div>\n        <\/div>\n      <\/div>\n            <div>\n        <label><input name=\"rememberme\" type=\"checkbox\" id=\"rememberme\" value=\"forever\" \/> Remember Me<\/label>\n      <\/div>\n      <div class=\"mp-spacer\">&nbsp;<\/div>\n      <div class=\"submit\">\n        <input type=\"submit\" name=\"wp-submit\" id=\"wp-submit\" class=\"button-primary mepr-share-button \" value=\"Log In\" \/>\n        <input type=\"hidden\" name=\"redirect_to\" value=\"\/fi\/wp-json\/wp\/v2\/posts\/117642\" \/>\n        <input type=\"hidden\" name=\"mepr_process_login_form\" value=\"true\" \/>\n        <input type=\"hidden\" name=\"mepr_is_login_page\" value=\"false\" \/>\n      <\/div>\n    <\/form>\n    <div class=\"mp-spacer\">&nbsp;<\/div>\n    <div class=\"mepr-login-actions\">\n        <a\n          href=\"https:\/\/tietopankki.crnet.fi\/fi\/login-2\/?action=forgot_password\"\n          title=\"Click here to reset your password\"\n        >\n          Forgot Password        <\/a>\n    <\/div>\n\n      \n    <!-- mp-login-form-end --> \n  <\/div>\n      <\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<div class=\"smart_content_wrapper\">\nGlobal market for fossil gas facing &#8216;new and uncertain period&#8217; triggered by Russia&#8217;s war in Ukraine, according to IEA. Russia&#8217;s war in Ukraine has &#8220;ushered in a different era for global gas markets&#8221;, with demand growth for the fossil fuel set to slow significantly in the coming years before potentially peaking by the end of the decade, according to the International Energy Agency (IEA).<\/p>\n<p>The IEA&#8217;s latest fossil gas market report indicates the supply shock sparked by Russia&#8217;s invasion of Ukraine last year could serve to hasten the shift away from the fossil fuel as governments worldwide respond to heightened energy security concerns and high gas prices. Having enjoyed a decade of strong growth in demand, the average global annual demand growth rate for fossil gas of 2.5 per cent seen in the years through to 2021 is expected to slip to an average of just 1.6 per cent a year between 2022 and 2026, according to the report.<\/p>\n<p>Demand growth for fossil gas could then potentially grind to a halt by 2030, as the market faces a &#8220;new and uncertain period&#8221;, with more and more countries and regions shifting towards cleaner sources of heat and power, at the same time as ramping up investment in energy efficiency measures, the IEA predicted. &#8220;After their heyday between 2011 and 2021, the world&#8217;s gas markets have entered a new and more uncertain period that is likely to be characterised by slower growth and higher volatility &#8211; and could lead to a peak in global demand by the end of this decade,&#8221; said Keisuke Sadamori, IEA&#8217;s director of energy markets and security.<\/p>\n<p>Overall gas demand from mature markets in Asia-Pacific, Europe, and North America already peaked in 2021, and is now forecast to decline by around one per cent a year through to 2026, driven by an accelerated rollout of renewables and improved energy efficiency, the report states. It highlights Europe&#8217;s response to the Ukraine conflict in particular, which resulted in the loss of imported piped gas from Russia and a rush from European governments to seek alternative energy sources. The EU responded with a rapid acceleration in energy efficiency, electrification, and renewables programmes, as well as a co-ordinated push to source fossil gas supplies from other markets.<\/p>\n<p>Given demand is now expected to decline in more mature markets &#8211; which represent around half of total global gas demand &#8211; growth in demand is set to be highly concentrated in fast-growing Asian markets as well as some gas-rich economies in the Middle East and Africa, the IEA said. China alone is expected to account for almost half the total global growth in fossil gas demand over the next four years, it said, as the world&#8217;s second biggest economy draws on the fuel to serve its rapidly growing industrial production, power generation, and fast-expanding urban areas.<\/p>\n<p>Meanwhile, the IEA also expects global gas market dynamics to be heavily affected by an increase in new LPG capacity coming online in the coming years, which it said would help to ease bottlenecks and unlock price sensitive demand. Global LPG capacity is expected to expand by as much as a quarter between 2022 and 2026, with the US consolidating its position as the world&#8217;s largest LPG exporter through the construction of a host of new liquefication plants.<\/p>\n<p>The IEA said the growth in LPG supply would help to diversity and globalise the fossil gas market, which could in turn help improve resilience and the ability of suppliers and consumers to respond to supply and demand shocks, such as that triggered by the Kremlin&#8217;s decision to invade Ukraine. &#8220;Different trends are playing out across different regions, with demand declining in mature markets but continuing to grow in emerging and developing economies,&#8221; said Sadamori. &#8220;We expect a substantial increase in new LNG capacity coming online in the years ahead, which should ease some of the tightness and security of supply concerns that markets have been experiencing since Russia started withholding supplies in 2021.&#8221;<\/p>\n<p>The findings add to mounting pressure on fossil fuel producers worldwide, with growing numbers of analysts also predicting global demand for oil will peak in the 2020s, potentially increasing the risk of investors being left with stranded assets as the green energy transition accelerates in the coming years. However, global energy markets are still likely to face significant volatility and uncertainty in the coming years, with challenges resulting from the ongoing conflict in Ukraine set to remain for the foreseeable future, while the escalating conflict in Israel is now also expected to lead to a further spike in oil prices in what could prove another boon for oil and gas company profits.<\/p>\n<p>Source: <a rel=\"noopener\" href=\"https:\/\/www.businessgreen.com\/news\/4133016\/global-fossil-gas-demand-slowing-iea-signals-peak-expected-2030\">Business Green<\/a><\/p>\n<\/div>\n<p>The post <a rel=\"noopener\" href=\"https:\/\/vastuullisuusuutiset.fi\/fi\/csr-news-en\/global-fossil-gas-demand-slowing-as-iea-signals-peak-expected-by-2030\/\">Global fossil gas demand slowing as IEA signals peak expected by 2030<\/a> appeared first on <a rel=\"noopener\" href=\"https:\/\/vastuullisuusuutiset.fi\/fi\">Vastuullisuusuutiset.fi<\/a>.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22],"tags":[555,1742,771,757,591],"class_list":["post-117642","post","type-post","status-publish","format-standard","hentry","category-news","tag-csr-news-en","tag-fossil","tag-gas","tag-global","tag-iea"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/posts\/117642","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/comments?post=117642"}],"version-history":[{"count":0,"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/posts\/117642\/revisions"}],"wp:attachment":[{"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/media?parent=117642"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/categories?post=117642"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/tags?post=117642"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}