Global Natural Gas Shortage Expected to Persist Through Summer 2024
Source Summary
The International Gas Union, representing 90% of global gas producers, forecasts that natural gas supply will remain constrained through next summer, potentially causing significant demand destruction. Europe faces particular pressure as it struggles to meet winter heating needs before the official heating season begins. Asia is also expected to be negatively affected by the prolonged supply tightness.
Why it matters
Prolonged global gas supply constraints threaten to disrupt energy security for major economies and could trigger widespread demand destruction with cascading economic consequences.
