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12 February 2020

GECF Predicts Global Energy Gas Share at 27% by 2050

On February 10 in Doha, Gas Exporting Countries Forum (GECF) presented its long-term 2050 energy and gas markets development outlook. The analysis states that fossil fuels share in global energy mix will shrink from 81% to 71% by 2050.

Oil’s share will drop by 26%; coal, by 18%. Natural gas will be the only fossil fuel, the use of which is to increase from 23% to 27%.

GECF believes that global natural gas use will grow by 1.3% annually and will have reached 5.97 trillion cm by 2050. The organization underlines that the growth will be driven by environmental concerns, coal-to-gas switching, as well as economic and population growth.

The outlook projects that 66% of additional gas demand by 2050 will come from industry and generation. The use of gas on transport is also going to increase and will account for 16% rise in demand by 2050.

North America will account for the largest share of gas use growth. GECF countries are to increase their gas output by 47% to 2.53 trillion cm pro year by 2050. GECF forecasts LNG to be the main driver of gas sector development.

 

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