The “golden age of gas […] is nearing an end” and demand will begin to decline from the start of the 2030s, the International Energy Agency (IEA) has declared. A global shift to renewables and the “rise of heat pumps” will see gas use slow over the next decade before the market goes into decline in the 2030s, the IEA’s annual World Energy Outlook predicts. In another blow to global gas markets, the IEA states that the outlook for hydrogen “is clouded by cost inflation, uncertainty around policy details and supply chain bottlenecks”.
IEA: Golden age of gas is nearing an end
