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FinancialNews
17-06-20
International gas demand may decrease by 2-5 percent in 2020
(MENAFN)
The Secretary-General of Gas Exporting Countries Forum (GECF), Dr. Yury Sentyurin has stated that as most nations around the globe are facilitating their coronavirus restrictions and regulations and recommencing economic markets and production facilities, the reduction in international demand for gas is projected to be only by 2 percent in 2020. And at the very worst, if the shutdowns and curfews stay more than six months, the demand may eye a decrease of up to 5 percent.
In an exclusive interview to The Peninsula, the Secretary-General of the Doha-based gas Forum, pointed out that the whole year 2020, foresees a loss of between 5 and 10Mt in LNG supply, primarily from the United States, which is expected to come to been seen in the market in the next year.
As such, GECF forecasts a recovery in the international LNG supply progress of 5-7 percent in 2021. This reduction in gas demand will be the first slip since 2009 which is mainly taken by lower consumption in the power and industrial sectors considerably affected by the curfew measures.
MENAFN1706202000450000ID1100339536
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