The IEA's Gas Market Report for Q1-2024 highlights the state of the global natural gas market. In 2023, the market experienced a gradual rebalancing despite tight supply fundamentals, with demand reductions in Europe and mature markets in Asia softening the impact of the gas supply shock of 2022. Prices have decreased significantly in 2023, but remain above historical averages in both Asia and Europe. The report predicts a return to strong growth in the natural gas market in 2024, primarily driven by industrial demand.