By 2030, global gas consumption will increase by 10% and oil by 4%

The main increase in demand will come from Asia, especially India and China. In Europe, gas consumption will continue to fall and in 2030 will be 22% lower than in China. Oil demand in developed countries will remain stable. This forecast was made by VTB analysts on the eve of the 15th VTB investment forum “RUSSIA CALLING!”

Gas demand

The main increase in demand is occurring in Asia, outside the production regions, leading to increased long-distance international trade. At the same time, liquefied natural gas (LNG) and pipelines occupy approximately equal shares in cross-border trade volumes, but LNG plays a more important role in interregional balancing of supply and demand.

By region, VTB expects the following dynamics in the gas market:

• Gas consumption in China in 2030…