Natural gas is expected to experience its biggest decline ever in 2020 due to the coronavirus crisis, the International Energy Agency (IEA) warned in a report on Wednesday.
Global demand could fall by 4% this year (or 150 billion cubic metres). That is twice as much as the drop following the global financial crisis of 2008.
Gas had already experienced a slowdown in growth in 2019 (+1.8% compared to 2018), but it benefited from substitution for coal, particularly in China, where the authorities want to improve air quality in major cities.
Consumption was then affected in early 2020 by a mild winter in the northern hemisphere, followed by the new coronavirus (Covid-19) pandemic, which saw containment measures and a fall in economic activity around the world.