Released July 07, 2025 | SUGAR LAND
en
Written by John Egan for Industrial Info Resources (Sugar Land, Texas)--Worldwide gas use set another record in 2024, according to the Energy Institute's (EI) (London, England) latest "Statistical Review of World Energy," growing 2.5%, about 101 billion cubic meters (Bcm), to approximately 4,128 Bcm, or roughly 146 trillion cubic feet (Tcf). Last year, the U.S. was the world's largest consumer of gas, at 902 Bcm, or approximately 32 Tcf, a 1.3% gain over 2023's usage. The next largest consumers of gas in 2024 were the Russian Federation (477 Bcm, or about 17 Tcf), China (434 Bcm, or 15 Tcf) and Iran (245 Bcm, or approximately 9 Tcf).
Chinese gas demand increased 7% last year, a slowdown from the 8.7% average annual gain it recorded over the prior decade. European gas demand rose 1.4% in 2024, a reversal of that region's average annual decline in usage of 0.6% over the prior decade.
By world regions, North America was the leading producer and consumer of gas last year. But consumption of gas is rising rapidly in the Asia-Pacific region: In 2024, gas usage in that area grew 4.5% to reach about 973 Bcm, or slightly over 34 Tcf. Gas demand in Central and South America grew 4.2% last year, but on a much smaller base. That area's gas demand totaled 169 Bcm, or slightly under 6 Tcf, in 2024, the EI report said.
Europe gas demand grew modestly in 2024, climbing 1.4% to about 469 Bcm, about 16.6 Tcf, an increase of 6 Bcm. This was the first time Europe's annual gas demand increased since 2021, according to the report.
Click on image at right to see a chart of gas demand and production for various world regions in 2024.
Natural gas accounted for about 25% of the world's primary energy in 2024, about 149 exajoules (EJ). Gas was the world's third-largest source of primary energy last year, trailing coal (199 EJ) and oil (155 (EJ), it added.
Click on the image at right to see a graphic of the sources of the world's primary energy in 2024.
Turning to gas production, the "Statistical Review of World Energy" noted 2024 was also a record year, rising 1.2% to 4,124 Bcm, or about 146 Tcf. The largest producers last year were the U.S. (1,033 Bcm or roughly 36.5 Tcf), Russia (630 Bcm or slightly over 22 Tcf), Iran (263 Bcm or just over 9 Tcf), China (248 Bcm or just under 9 Tcf) and Qatar (179.5 Bcm or slightly over 6 Tcf.) The world's five largest producers accounted for about 2,353 Bcm, roughly 83 Tcf or about 57% of overall global production.
European gas production continued its long-term decline, falling by 3.4% in 2024, primarily due to decreases in Norway, the UK and the Netherlands.
Over the last decade, the report noted, China has gone from being the world's sixth-largest gas producer to its fourth. Its domestic production now meets 56% of its domestic demand for gas.
Turning to liquefied natural gas (LNG), the EI report said total LNG volumes slipped 0.7% last year, to slightly over 544 Bcm, or just over 19 Tcf. The U.S. remained the global leader in LNG exports, at 115.2 Bcm or 4 Tcf, a slight gain over 2023 export volumes of 113.5 Bcm. President Donald Trump's decision to vacate the Biden administration's pause on permitting new LNG export terminals should lead to larger gains in 2025 and beyond.
U.S. LNG exports to Europe fell by 16 Bcm last year compared to 2023. Most of those cargoes were redirected to the Asia-Pacific region. Qatar and Australia shared second place, with each country exporting about 107 Bcm last year.
In a June 26 press event to release the report, speakers referred elliptically to gas as a bridge fuel to a lower-carbon future, providing gas-fired power plants were equipped with carbon capture, use and sequestration (CCUS) technology.
Wafa Jafri, a partner at KMPG and leader of the firm's energy and natural resources strategy, said, "The clear yet uncomfortable story is that the energy system across the globe is now being pulled in competing directions: electrification at speed, but with increased use of fossil fuels."
She noted increased global investment in what she called "low-carbon flexibility," shown in record increases in gas use and gas-fired electric generation capacity, as well as a record annual deployment of battery energy storage systems (BESS). "But what we're not seeing is that momentum carrying through to CCUS and hydrogen. There's been lots of buzz, but no increase yet."
Jafri continued: "Businesses are recognizing there won't be stable or ideal conditions to progress through the energy transition," echoing other speakers that the transition is proceeding in a "highly disorderly" and "chaotic" pace.
The KMPG partner also said "we're seeing energy infrastructure and policy not keeping up with rising demand, especially with the way (electric) demand in changing with the rise of artificial intelligence (AI)."
In this turbulent environment, she said successful energy businesses will "adapt regionally tailored strategies with a focus on operational resilience; energy portfolios that are able to flex with shifting policies and increasing costs; and ability to adapt to infrastructure challenges."
She concluded: "Leaders navigating this (transition) need to look beyond headlines and towards practical delivery, regional opportunity and strategies built for resilience as all facets of the energy trilemma: affordability, security of supply and decarbonization, compete for priority."
For roughly seven decades, this annual statistical atlas had been produced by BP Plc (London). But EI took it over in 2023. This year's report was the 74th edition. To learn what the report said about global oil markets, see July 1, 2025, article - New Report Finds Oil Demand Hit a New Record in 2024. To see what the report said about global coal markets and CO2 emissions, see July 3, 2025, article - Energy Institute: Global Coal Use Hit New Record in 2024.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
Chinese gas demand increased 7% last year, a slowdown from the 8.7% average annual gain it recorded over the prior decade. European gas demand rose 1.4% in 2024, a reversal of that region's average annual decline in usage of 0.6% over the prior decade.
By world regions, North America was the leading producer and consumer of gas last year. But consumption of gas is rising rapidly in the Asia-Pacific region: In 2024, gas usage in that area grew 4.5% to reach about 973 Bcm, or slightly over 34 Tcf. Gas demand in Central and South America grew 4.2% last year, but on a much smaller base. That area's gas demand totaled 169 Bcm, or slightly under 6 Tcf, in 2024, the EI report said.
Europe gas demand grew modestly in 2024, climbing 1.4% to about 469 Bcm, about 16.6 Tcf, an increase of 6 Bcm. This was the first time Europe's annual gas demand increased since 2021, according to the report.
Natural gas accounted for about 25% of the world's primary energy in 2024, about 149 exajoules (EJ). Gas was the world's third-largest source of primary energy last year, trailing coal (199 EJ) and oil (155 (EJ), it added.
Turning to gas production, the "Statistical Review of World Energy" noted 2024 was also a record year, rising 1.2% to 4,124 Bcm, or about 146 Tcf. The largest producers last year were the U.S. (1,033 Bcm or roughly 36.5 Tcf), Russia (630 Bcm or slightly over 22 Tcf), Iran (263 Bcm or just over 9 Tcf), China (248 Bcm or just under 9 Tcf) and Qatar (179.5 Bcm or slightly over 6 Tcf.) The world's five largest producers accounted for about 2,353 Bcm, roughly 83 Tcf or about 57% of overall global production.
European gas production continued its long-term decline, falling by 3.4% in 2024, primarily due to decreases in Norway, the UK and the Netherlands.
Over the last decade, the report noted, China has gone from being the world's sixth-largest gas producer to its fourth. Its domestic production now meets 56% of its domestic demand for gas.
Turning to liquefied natural gas (LNG), the EI report said total LNG volumes slipped 0.7% last year, to slightly over 544 Bcm, or just over 19 Tcf. The U.S. remained the global leader in LNG exports, at 115.2 Bcm or 4 Tcf, a slight gain over 2023 export volumes of 113.5 Bcm. President Donald Trump's decision to vacate the Biden administration's pause on permitting new LNG export terminals should lead to larger gains in 2025 and beyond.
U.S. LNG exports to Europe fell by 16 Bcm last year compared to 2023. Most of those cargoes were redirected to the Asia-Pacific region. Qatar and Australia shared second place, with each country exporting about 107 Bcm last year.
In a June 26 press event to release the report, speakers referred elliptically to gas as a bridge fuel to a lower-carbon future, providing gas-fired power plants were equipped with carbon capture, use and sequestration (CCUS) technology.
Wafa Jafri, a partner at KMPG and leader of the firm's energy and natural resources strategy, said, "The clear yet uncomfortable story is that the energy system across the globe is now being pulled in competing directions: electrification at speed, but with increased use of fossil fuels."
She noted increased global investment in what she called "low-carbon flexibility," shown in record increases in gas use and gas-fired electric generation capacity, as well as a record annual deployment of battery energy storage systems (BESS). "But what we're not seeing is that momentum carrying through to CCUS and hydrogen. There's been lots of buzz, but no increase yet."
Jafri continued: "Businesses are recognizing there won't be stable or ideal conditions to progress through the energy transition," echoing other speakers that the transition is proceeding in a "highly disorderly" and "chaotic" pace.
The KMPG partner also said "we're seeing energy infrastructure and policy not keeping up with rising demand, especially with the way (electric) demand in changing with the rise of artificial intelligence (AI)."
In this turbulent environment, she said successful energy businesses will "adapt regionally tailored strategies with a focus on operational resilience; energy portfolios that are able to flex with shifting policies and increasing costs; and ability to adapt to infrastructure challenges."
She concluded: "Leaders navigating this (transition) need to look beyond headlines and towards practical delivery, regional opportunity and strategies built for resilience as all facets of the energy trilemma: affordability, security of supply and decarbonization, compete for priority."
For roughly seven decades, this annual statistical atlas had been produced by BP Plc (London). But EI took it over in 2023. This year's report was the 74th edition. To learn what the report said about global oil markets, see July 1, 2025, article - New Report Finds Oil Demand Hit a New Record in 2024. To see what the report said about global coal markets and CO2 emissions, see July 3, 2025, article - Energy Institute: Global Coal Use Hit New Record in 2024.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
