Based on the provided forecasted data for gas consumption in the Philippines, the values stand at 280.0 Million Cubic Feet Per Day (MMCFD) in 2024, decreasing to 270.0 MMCFD in 2025 and 2026, and further down to 260.0 MMCFD in 2027 and 2028. For a context, the gas consumption in 2023 was 290.0 MMCFD, marking a baseline for our analysis.
Year-on-year variations:
- 2023-2024: -3.4%
- 2024-2025: -3.6%
- 2025-2026: 0.0%
- 2026-2027: -3.7%
- 2027-2028: 0.0%
The compound annual growth rate (CAGR) from 2024 to 2028 is -2.0%, indicating a downward trend in gas consumption over these years.
Future trends to watch for:
- Regional economic growth and its impact on energy demand.
- Transition to renewable energy sources and policies on reducing fossil fuel dependency.
- Technological advancements in energy efficiency and their potential to reduce gas consumption.
