By 2024, it is expected that the global demand for natural gas is set to rise by more than 10% in the next five years, which can reach up to 4.3 trillion cubic meters.
International Energy Agency (IEA) revealed that China is expected to account for more than 40% of gas demand growth in 2024, but predicts strong growth in other Asian countries when it comes to gas consumption, particularly South Asia.
By shifting away from coal, China’s demand growth will be propelled in efforts to improve air quality as the industrial sector in Bangladesh, India and Pakistan is the main contributor to growth.
IEA highlights that there is demand for natural gas which has increased to 4.6% in 2018. The organisation further added that this is the fastest annual rate since 2010.