Global Natural Gas Demand Soars in 2024, China Leads

The natural gas market rebounded in 2024 after supply disruptions in 2022 and 2023, according to the International Energy Agency (IEA).

The IEA reported a 2.7% increase in gas demand, or 115 billion cubic meters (bcm), equivalent to approximately 3.89 exajoules (EJ) in 2024.

"Global gas demand reached a new all-time high, with over three-quarters of the growth coming from developing country markets," the IEA stated in a report cited on Tuesday (April 29, 2025).

The IEA explained that this figure is above the average annual growth rate of around 2% from 2010 to 2019. It's significantly higher than the approximately 1% growth rate between 2019 and 2023, amidst the Covid-19 pandemic and the global energy crisis.

China experienced the largest change in natural gas demand globally, with an increase of 0.99 EJ last year. This was followed by Russia at 0.8 EJ and the United States at 0.61 EJ.

Meanwhile, the Middle East recorded a change of 0.45 EJ, and the European Union only 0.02 EJ. Developing Asian countries collectively saw a change of 0.5 EJ, equal to the combined increase of all other countries worldwide.

The IEA noted that developing countries and emerging economies in Asia contributed approximately 40% of the additional gas demand in 2024. "This is due to continued economic expansion," the IEA wrote.