India, July 10 -- Global natural gas demand is anticipated to drop by 0.5 percent this year as the conflict in the Middle East continues to reshape the key natural gas markets, especially in Asia, according to the International Energy Agency's third-quarter gas market report. This fall would be the third drop in the commodity demand on an annual basis in seven years.
This projected fall in demand reflects lower natural gas consumption by the power and industrial sectors in the Middle East and Asia. Limited supply, damage to gas-intensive industries and power plants, and stoppage of normal functioning of manufacturing facilities in the Middle East have resulted in reduced demand for the commodity, the IEA said.
Natural gas demand has also ...