Cheap gas key to unlocking new markets

Weaning poorer regions off coal means gas needs to be abundant and competitive longer term

Ensuring gas is cheap enough to broaden access to the fuel is the key to unlocking more demand in price-sensitive emerging markets in Africa and Southwest Asia, with supportive government policy essential for entrenching the fuel and assuring investors of its longevity, industry executives said at the World Gas Conference in Beijing in May. The cost of gas across all key markets in 2024 declined significantly year-on-year, but European and Asian spot prices remained well above their historic averages. The front-month TTF price last year was more than double the five-year average over 2016–20, while the Platts Japan-Korea Marker averaged nearly twice as high, according to the IEA. “We d