The Gas Exporting Countries Forum (GECF) has launched the 8th edition of its annual Global Gas Outlook 2050 (Outlook), the key findings show that by 2050:
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1.7 billion additional inhabitants on the planet by 2050, the majority in Africa
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Global real GDP is set to more than double, with non-OECD economy exceeding the OECD by the early 2040s.
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Primary energy demand is expected to increase by 20% by 2050
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Global natural gas demand is projected to rise from 4,015 bcm in 2022 to 5,360 bcm in 2050, or 34%, with no peaking.
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Meeting demand requires investments in exploration and development, as only 20% of the production in 2050 comes from legacy fields.
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LNG will dominate natural gas trade.
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Cumulative global investment required in the period to 2050 is projected to amount to USD 8.9 trillion, with the upstream accounting for the larger share.
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Energy future remains remarkably uncertain.
A synopsis version of the GECF Global Gas Outlook 2050 is available at:
https://www.gecf.org/_resources/files/pages/global-gas-outlook-2050/gecf-global-gas-outlook-20231.pdf