Global natural gas demand is expected to experience slower growth to 2026 after peaking in mature markets such as Europe and North America in 2021, a report by the International Energy Agency (IEA) said on Tuesday. The IEA’s annual medium-term gas market outlook said global gas demand was on course to increase by an average of 1.6 per cent a year from 2022 to 2026, more slowly than the average annual rise of 2.5 per cent between 2017 and 2021. Russia’s invasion of Ukraine last year resulted in lower supplies of pipeline gas to Europe from Russia, prompting a race for alternative energy supplies.

ADNOC announced the final investment decision and award of contracts for the Hail and Ghasha Offshore Development project. The project aims to operate with net zero carbon dioxide (CO2) emissions, reinforcing ADNOC’s legacy of responsible natural gas production and supporting its Net Zero by 2045 ambition and accelerated decarbonization plan.

His Highness Sheikh Tamim bin Hamad Al Thani, Amir of the State of Qatar, laid the foundational stone of the North Field expansion project, which will raise the State of Qatar’s LNG production capacity from the current 77 million tons per annum (MMtpa) to 126 MMtpa by 2026.