GEFC – Monthly Gas Market Report, Apr 2024

The GEFC Monthly Gas Market Report for April 2024 provides insights on the global economy, gas consumption, production, trade, storage, and energy prices. The global GDP growth is projected to be 2.9% in 2024, with expectations of a 3.2% growth in 2025. Gas consumption in the EU and the US decreased due to warm winter weather conditions, while China saw a rise in gas demand. Gas production in the US, Europe, and Asia increased, with some producers cutting production due to low prices. Pipeline gas imports to the EU and global LNG imports rose, driven by Asia Pacific. Gas storage levels in Europe, the US, and Asia were high. Gas and LNG spot prices in Europe and Asia increased, while Henry Hub prices in the US declined. It is anticipated that demand from price-sensitive countries in South and Southeast Asia will support prices in the upcoming months.