IEA Cuts Gas Use Growth Forecast as Coal, Renewables Gain

Global natural gas demand will increase at a slower rate than previously expected through 2019 amid weaker economic growth and competition from coal and renewables, according to the International Energy Agency.

Gas use will climb by 2.2 percent annually through 2019 from 2013 after last year posting the slowest growth among fossil fuels, the Paris-based International Energy Agency said today in its medium-term gas market report. Consumption will be driven by non-developed countries, which will see their market share rise to 57 percent of the total from parity in 2007.