Natural gas can become the fuel of choice in satisfying the growing world energy needs, addressing climate change and improving air quality, says the GECF Global Gas Outlook 2050. The total upstream and midstream investments will reach a hefty $8.7 trillion, it says.
The Gas Exporting Countries Forum's (GECF) comprehensive report on the status of natural gas up to 2050 predicts the share of natural gas in the energy mix will increase from 23% today to 27% by 2050. Global energy demand will rise by 29% over the next three decades, with the majority of that increase emanating from growing economies in Asia Pacific and Africa, it says.
The outlook expects the Middle East will deliver 32% of the global gas supply increase and sees a growing role for deepwater and unconventional resources.In his overview of new-edition of the outlook, Eng Mohamed Hamel, Secretary General of the GECF, highlighted the continued prominence of natural gas in various energy outlooks and pathways. Hamel said: [The GECF Global Gas Outlook 2050 underscores that investment in natural gas is critical for the stability of global energy systems. It projects that by 2050, total upstream and midstream investments will reach a hefty $8.7 trillion."
