Global LNG demand to rise for few decades, Covid a temporary blip: industry

LONDON (Reuters) – Demand for liquefied natural gas (LNG) is set to increase steadily for several decades helped by economic growth in Asia, industry executives told the Gastech summit this week, with the COVID-19 pandemic seen as only a short-term setback.

“While the world continues to grapple with the severe impacts of market demand and the impact of COVID-19, long-term fundamentals remain strong supported by growing population and energy demand,” Irtiza Sayyed, president, ExxonMobil LNG Market Development Inc, said.

Global gas demand is forecast to decline by around 3% in 2020 and make a robust recovery after that, according to International Energy Forum.