IEA: demand for gas in Europe to increase by 1.8%

​The International Energy Agency has released its mid-term report on the European gas market. Experts forecast that the annual demand for gas will increase by 1.8% until 2021 reaching 499 bln cubic m.

Analysts refer Norway to the European region which is not a member of the EU. According to the IEA, in 2015 the annual demand for gas made up 490 bln cubic m, in 2017 it will reach 492 bln, in 2019 will grow to 495 bln cubic m.

It is reported that the demand significantly fell between 2009 and 2015. In 2009 the demand was 527 bln cubic m. the IEA said that gas extraction is likely to go on falling at the speed of 2.1% a year.

The UK, Norway and the Netherlands reduce gas production.

Previously the IEA made a forecast of the oil price until 2021 and expects the price rise.