Global natural gas demand set for biggest fall on record

FINANCIAL TIMES đź”’| Global consumption of natural gas will drop this year by the most in history, according to the International Energy Agency, as measures to contain the spread of coronavirus lead to an unprecedented shock to demand.

The Paris-based IEA said on Wednesday that the effects of the pandemic, combined with a mild winter in the northern hemisphere, will cause global natural gas consumption to drop 4 per cent in 2020, or 150bn cubic metres, with the impact spanning every region in the world. Such a fall would be twice as severe as that registered after the global financial crisis in 2009, when demand fell 2 per cent.

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