The eighth edition of the GECF Global Gas Outlook takes a detailed look at the complex challenges of the energy trilemma and analyses aspects such as economic growth, energy demand, the complexity of supply and the changing landscape of the natural gas market.
Sustained increase in energy consumption: The latest edition predicts continued growth in global energy consumption, accompanied by a trend towards a more equitable distribution per capita, particularly in developing regions striving for sustainable development.
Renewable energies on the rise: While renewable energy sources are on the rise, particularly in the electricity sector, they are not yet sufficiently mature to meet the growing demand for energy, which emphasises the need for a diversified energy mix.
Natural gas as a key player in the energy transition: Natural gas is proving to be a crucial partner in facilitating a just, orderly and equitable energy transition. Its clean burning properties make it a sustainable alternative to conventional biomass and contribute to improved air quality, reduced emissions and global food security.
Investment and production prospects: The majority of natural gas production by 2050 is expected to come from new projects and undiscovered resources, requiring significant investment of over USD 9 trillion to meet global demand. Investment in natural gas will be essential to address the trilemma of affordability, security and sustainability.
Increase in natural gas trading: The outlook shows a significant increase in global natural gas trade, which is expected to account for over a third of global gas demand by 2050. LNG trade is expected to more than double by 2050, surpassing trade via long-distance pipelines This will improve integration, flexibility and efficiency on the natural gas markets.
Progress in clean energy technologies: While natural gas is inherently cleaner, further progress in clean energy technologies such as CCUS and hydrogen production is essential to limit the global temperature rise. Comprehensive political support and market mechanisms are crucial for successful implementation.
