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- 12:30 - 13:30
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The IEA presents its medium-term natural gas market analysis.
13 October 2020, 12:30 - 13:30 BST
2020 is on its way to experiencing the largest recorded demand shock in the history of global natural gas markets. The Covid-19 pandemic hit an already declining gas demand, faced with historically mild temperatures over the first months of the year. Gas consumption is expected to fall by 4% in 2020, under the successive impacts of lower heating demand from the warm winter, the implementation of lockdown measures in almost all countries and territories to slow the spread of the virus, and a lower level of activity caused by the Covid-19-induced macroeconomic crisis.
Faced with this unprecedented shock, natural gas markets are going through a strong supply and trade adjustment, resulting in historically low spot prices and high volatility. Natural gas demand is expected to progressively recover in 2021, however the Covid-19 crisis will have longer-lasting impacts on natural gas markets as the main medium-term drivers are subject to high uncertainty.
In this event the IEA will provide a detailed analysis of recent natural gas market developments, assess the impact of the Covid-19 crisis in the short to medium term, and discuss the main drivers and uncertainties to future gas supply and demand to 2025.
- Francesca Ferrari
- +44 (0)20 7467 7192