Global Gas Security Review 2024

Following the gas supply shock of 2022/23, natural gas markets have returned to more pronounced growth, with global gas demand expected to reach new all-time highs in both 2024 and 2025. At the same time, the global gas balance remains fragile amid limited LNG supply growth and geopolitical tensions.

The Global Gas Security Review has provided a thorough assessment of the evolution of gas supply security and LNG contracting trends each year since its first publication by the International Energy Agency (IEA) in 2016. This year’s edition also includes the latest insights of the IEA’s quarterly Gas Market Report, which provides a review of market developments over the first three quarters of 2024 and a short-term outlook for the remainder of the year and through 2025. It highlights the need for responsible producers and consumers to work together to reinforce the architecture of global gas supply security.

Beyond the growing complexity of gas supply security both in the short and long term, the decarbonisation of the global energy system will require the deployment and scaling up of low-emissions gases. As part of the IEA’s Low-Emissions Gases Work Programme, this year’s Review includes a special section on this topic, with a focus on the system integration of low-emissions gases in the transport sector.