International Energy Agency: Global natural gas consumption is expected to decline by 0.5% this year

Golden Ten Data reported on July 8 that the International Energy Agency stated on the 7th local time that, due to reduced natural gas supply caused by the situation in the Middle East and higher natural gas prices suppressing demand, global natural gas consumption this year is expected to decline by 0.5%, equivalent to 20 billion cubic meters. The International Energy Agency said that the US-Iran conflict has significantly reduced liquefied natural gas shipments through the Strait of Hormuz, a route that previously handled about 20% of the world’s liquefied natural gas transport.