The global gas and LNG markets are poised for significant transformation over the coming decades. Our analysis reveals two distinct growth phases leading up to 2050, with varying trajectories across different regions: 

1. The Expansion Era (2025–2035): Global gas demand is projected to grow by 15% through 2035, supported by a 33% growth in Asia and 15% increase in North America – and despite an 8% reduction in Europe. LNG demand will grow faster, expanding by 56% or 230mn tonnes per year (tpy) through 2035. This surge is primarily driven by new LNG supply sources reducing prices and consequently boosting demand. 

2. The Transition Phase (2035–2050) Post-2035: global gas demand is expected to peak and then begin a gradual decline as energy transition accelerates. But LNG demand will keep growing – albeit at a much slower pace – as domestic gas supply declines in key LNG importing regions. The period after 2035 marks a shift, with Northeast Asian and European LNG demand declining, while South and Southeast Asia become the only source of growth, alongside LNG bunkering demand. 

These projections paint a picture of a market in flux, presenting both challenges and opportunities. From technological advancements and environmental policies to geopolitical shifts and changing consumer preferences, the industry must navigate a multifaceted and often unpredictable terrain. In an era where adaptability and foresight will be key differentiators,  companies that can anticipate and respond to these shifting dynamics will be better positioned to thrive in this evolving landscape.