Despite the ongoing economic impacts of the coronavirus and its effect on oil and natural gas demand and investments, analysts believe natural gas will bounce back and possibly even show significant growth, according to the International Energy Agency (IEA).
Energy demand is expected to drop by 5% in 2020, and oil and gas investments are expected to fall by an estimated 18% as a result of the impacts of the coronavirus pandemic. However, projections for natural gas over the next decade are positive.
The most likely projection shows natural gas growing significantly, mainly in Asia, while oil remains vulnerable. Furthermore, the U.S. is forecast to see a 130 billion cubic meter (bcm) increase in gas production to 2030.
Learn more: Natural gas Intelligence > COVID crisis to leave scars for years to come, but natural gas to bounce back, says IEA
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