McKinsey Energy Insights, data and analytics specialist for the global energy industry, has released its Global Gas & LNG Outlook to 2035.
The report finds that continuous demand growth, alongside new supply sources, will transform the gas market import and export balances by 2022.
This transformation will be driven by significant global gas demand growth of 300 billion cubic meters by 2022, with Asia accounting for around 50% of that additional demand. Crucially, buyers in China will increasingly rely on LNG imports as domestic supply growth and incremental pipeline inflows are expected to be insufficient to meet rapidly growing policy-led demand. On the supply side, declining production in Europe and increasing North American supply will impact market dynamics.
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