While the manifold impacts of the coronavirus crisis have affected domestic environmental policymaking and climate talks across the world, current circumstances even more vividly illustrate the greater speed and depth of the changes needed to fight climate change, whose impacts are unevenly distributed. In a critical year for climate diplomacy and action, 2021 presents an opportunity to kick-start a green and inclusive economic recovery and to support low-carbon development models across the world.

Natural gas markets started off the year with a strong rebound, supported by a combination of recovering economic activity in most markets along with a series of weather-related events – cold spells in Q1 followed by colder or drier than average temperatures in Q2. Rising demand in 2021 is expected to offset the 2020 decline and even grow further with an expected 3.6% annual increase.