IEA sees gas glut until 2015, rising coal role

Global gas demand looks set to fall this year and the market is likely to remain oversupplied until 2015, despite a rise in demand when the economy begins to recover, the International Energy Agency said.

In its annual World Energy Outlook published on Tuesday, the IEA said demand for gas for industry and power generation could fall sharply this year, particularly in Europe, leading to a possible 3 percent drop in global demand.

Gas consumption could bounce back globally from next year, if the global economy recovers, rising by an average of 2.5 percent a year from 2010 to 2015 driven by increased gas burning for electricity generation.

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- Posted: 2009-11-10 11:02:02

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