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Informist, Friday, Apr. 25, 2025

MUMBAI – Global gas production in 2025 is expected to grow by 2%, driven by strong output in West Asia, the Gas Exporting Countries Forum said in its Monthly Gas Market Report for April. Global gas consumption is also expected to rise by 2%, driven by a rise in consumption in North America and Asia, it said.

In March, gas production in the US rose by 2.4% on year to 92 billion cubic metres due to favourable Henry Hub gas prices. However, Europe's gas production fell by 14% on year to 14.8 billion cubic metres in February, primarily due to reduced output from Norway and Netherlands.

Asia Pacific witnessed a 1.7% on-year decline driven by reduced output by the main Asian producers, which was partially offset by production growth in China. Meanwhile, Trinidad and Tobago, a member of the Gas Exporting Countries Forum, commenced production from the offshore Cypre field, the forum said.

Gas demand in the European Union surged by 5.2% on year to 32 billion cubic metres in March, primarily driven by higher consumption in the power and residential sectors. Gas consumption in the US declined by 2.3% on year to 77 billion cubic metres, as demand across multiple sectors fell.

Global liquefied natural gas imports in March rose by 8.4% on year to 37.8 million tonnes, marking the strongest on-year increase since November 2022. "Europe led the growth, supported by higher imports in the MENA (Middle East and North Africa) region, offsetting declines elsewhere," the forum said. Lower LNG demand in China weighed on Asian LNG imports.

In March, both European and Asian gas price benchmarks saw notable monthly declines. In the US, the Henry Hub spot price also edged lower, falling by 2% on month to an average of $4.13 per million British thermal unit. "...the escalating trade war and growing concerns over a potential global economic slowdown are expected to weigh on industrial activity, dampening global gas demand, thus putting further downward pressure on spot prices across key markets," the forum said.  End

US$1 = INR 85.45

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

Reported by Ashutosh Pati

Edited by Rajeev Pai

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