BAKU, Azerbaijan, Feb.6
By Leman Zeynalova – Trend:
Growth in liquefied natural gas (LNG) trade will exceed total pipeline trade by 2050, whereas in 2018 it was only just over half pipeline trade, Trend reports citing Gas Exporting Countries Forum (GECF).
Global Gas Outlook 2050, the key findings of which GECF shared with Trend, shows that LNG sector is expected to grow at 2.9 percent to 1077 bcm by 2050, while pipeline trade will expand more slowly at a rate of 1.2 percent per annum to reach 1063 bcm by 2050.
“LNG liquefaction capacity is set for a period of rapid growth, doubling by 2050, with many projects scheduled to come on stream in the next 7 to 10 years,” reads the report.
“The USA, Australia, Qatar, Russia and Mozambique are projected to lead the growth in export capacity. With over 120 mtpa of liquefaction capacity under construction, and another 260 mtpa planned, the share of LNG exports will rise from the current 37.2 percent to 45.2 percent of total exports by 2030, and to 50.3 percent by 2050.”
In general, in GECF view, population growth and economic growth will drive energy demand during the reporting period,
The organization expects that production from unconventional resources will become increasingly important, and their share of overall output is expected to rise from 25 percent to 38 percent by 2050.
Gas production in GECF countries will grow by almost 50 percent by 2050 to over 2.5 tcm, underlining the continued importance of the group, according to the report.
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