Almost all the Gas Exporting Countries Forum (GECF) member countries (excluding observers) will either increase or maintain the level of their annual production by 2050. In line with our previous forecast, this Outlook expects Russia, Iran, Qatar and Nigeria to make the largest contribution to the total GECF gas production expansion accounting for around 80% of total GECF incremental value over the outlook period.
GECF members will rise by 47.5%, reaching approximately 2,640 bcm by 2050. This translates to a 1.3% average annual growth rate over the period between 2019 and 2050. The GECF share in global gas production will reduce slightly through to the mid-2030s due to increases from non-GECF producers, including the US and Australia. Over the longer term, maintaining production capacity in the GECF countries will enable the GECF members to keep its share of global gas production at more than 44.7% by 2050.
Table- Outlook for GECF countries gas production (bcm)
Source: GECF Secretariat based on data from the GECF GGM 2020