Qatar Sees Gas Demand Peaking Around 2040, Much Later Than IEA
- QP expects consumption to grow at 1.5% a year: bond prospectus
- IEA predicts gas consumption will top out in the mid-2020s
Photographer: Annie Sakkab/Bloomberg
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Natural gas giant Qatar Petroleum predicted global demand for the fuel will continue to climb for almost two decades, making it far more optimistic than the International Energy Agency.
QP expects consumption to grow at a rate of 1.5% a year, driven higher by economic growth and a broad shift away from dirtier-burning coal, according to a bond prospectus seen by Bloomberg. It sees demand peaking around 2040, roughly 15 years later than forecast by the IEA.