Liquefied gas tanker in the Atlantic Ocean near Dakar, Senegal, Africa.
DOHA: Natural gas is entering a defining decade, not its decline. Long viewed as the most versatile and reliable fossil fuel, gas continues to underpin global energy security even as renewables accelerate.
In its latest Special Energy Report, “Global Natural Gas Demand: When Will Gas Consumption Peak?”, the Al-Attiyah Foundation finds that global demand reached a record high of 4,170 billion cubic metres (bcm) in 2024 — a 2% annual rise — driven by resurgent industrial activity, new LNG infrastructure, and rapid growth across Asia, the Middle East, and Africa.
The study reveals that despite shifting policy landscapes, natural gas remains a cornerstone of the global energy mix, accounting for about 22 % of total electricity generation and roughly 27 % of industrial energy use.
The Foundation notes that gas continues to provide flexibility, affordability, and cleaner profile that makes it essential to energy transition worldwide. According to the International Energy Agency (IEA), gas use in emerging markets climbed by nearly 6 % in 2024, offsetting declines in mature economies.
While forecasts differ on timing, the paper highlights that any eventual “peak gas” will be shaped more by policy choice and technology evolution than by resource limits. Some scenarios anticipate a plateau in the 2030s under rapid decarbonisation, while others — particularly those focused on industrial growth and energy access — see demand continuing to rise well into the 2050s.
Either way, natural gas is likely to remain the “last fossil fuel standing,” balancing renewables, supporting manufacturing, and enabling cleaner growth in developing economies.
Liquefied natural gas (LNG) in particular continues to expand its global footprint. According to the International Energy Agency (IEA), nearly 290 billion cubic metres (bcm) per year — equivalent to roughly 210 million tonnes per annum (MTPA) — of new LNG export capacity is expected to come online between 2025 and 2030 from projects already under construction.
Major developments include the Golden Pass LNG and Plaquemines LNG projects in the United States, Qatar’s North Field Expansion, and the Coral South and Rovuma LNG projects in Mozambique, which together represent more than 70 MTPA of new capacity under construction. As a result, LNG is emerging as a flexible, tradable, and lower-emission energy source that connects resource-rich nations with fast-growing importers across Asia and beyond.
At the same time, advances in carbon capture, utilisation and storage (CCUS) and methane reduction technologies are extending gas’s long-term role in a carbon-constrainedworld.
