Riyadh, 19 February 2025 - His Excellency Eng. Mohamed Hamel, Secretary General of the Gas Exporting Countries Forum (GECF), participated in the 15th IEA-IEF-OPEC Symposium on Energy Outlooks, held on 19 February at the King Abdullah Petroleum Studies and Research Centre (KAPSARC) in Riyadh, under the patronage of His Royal Highness Prince Abdulaziz bin Salman Al Saud, Minister of Energy of Saudi Arabia.
In his keynote address, HE Hamel congratulated HE Jassim Alshirawi on his appointment as Secretary General of the International Energy Forum (IEF). He also expressed his deep gratitude to His Royal Highness for his pivotal role in fostering the producer-consumer dialogue, recalling the process initiated in June 2008 in Jeddah that culminated in the Cancun Declaration of 2010 and the programme of cooperation between OPEC, the IEA, and the IEF.
The Secretary General presented key insights from the forthcoming GECF Global Gas Outlook, scheduled for release on 10 March. He highlighted that global primary energy demand is projected to increase by 18% by 2050, with natural gas emerging as the second-fastest-growing energy source after renewables. HE Hamel underscored that global gas demand is expected to rise by 32% by mid-century, with no peak in sight before 2050—driven largely by developing economies, and by the shift from traditional biomass to LPG for cooking, coal-to-gas switching, stabilization of renewable-heavy power grids, petrochemicals, and fertilisers for food security.
He also noted the emerging influence of artificial intelligence on energy demand, citing its impact on data center power consumption and total factor productivity. However, he cautioned that it is still too early to fully assess AI’s long-term effects on the economy, employment, and consumption patterns.
Turning to investment needs, HE Hamel emphasized that cumulative capital requirements for upstream and midstream natural gas infrastructure are estimated at USD 11 trillion. He warned that halting investments could lead to supply shortages and extreme market volatility.
HE Hamel also covered supply, trade, investments as well as emissions. He stated: "While a significant decline of greenhouse emissions is expected, we do not see a realistic pathway to net-zero by 2050." He stressed that carbon capture, utilization, and storage (CCUS), along with direct air capture (DAC), will be essential to achieving net-negative emissions, which are essential for limiting global temperature rise to below 2°C by 2100.
The Secretary General concluded by reaffirming that: "Natural gas is not merely a bridge to the future—it is a key pillar of the energy future."