Global natural gas demand is expected to bounce back to pre-pandemic levels this year, but the recovery is likely to be uneven and growth could be weak even after demand soared amid a historic cold snap this winter. 

“We opened the year with this very strong bull run in Asia, which I would say was rather short-lived if we look at the prices now and the months ahead,” said Gergely Molnar, an analyst at the International Energy Agency (IEA). 

IEA expects global natural gas demand to grow 2.8% this year, or just above the 2020 decline level, according to the agency’s first ever quarterly gas report. Growth is largely expected to be driven by emerging markets in Asia, Molnar told NGI. Mature markets in North America and Europe will see less growth. 

“We expect about 3%...