GECF Secretary General Participates in the Debates on the Global LNG Market's Transition
GECF Secretary General Yury Sentyurin was invited to deliver a keynote speech and share the Forum's expertise at the Budapest LNG Summit.
In his intervention HE Secretary General briefed on the GECF's Mission, strategic goals and ongoing activities. He also commented on the major strides of the evolution on the global LNG industry, and provided the overview of the global LNG market's transitions, as well as the latest projections and findings by the Forum in this regard.
Addressing to the audience Dr. Yury Sentyurin payed specific attention to the organisation's landmark deliverable - 2019 edition of the GECF Global Outlook, which is a unique energy outlook worldwide, focusing solely on natural gas.
GECF authority stressed, that 2019 data upgrade further improves the granularity of the projections, provided by the Forum. The new edition extends the foreseeing horizon till 2050 and includes energy balances of 20 country level forecasts. Reflecting the need to address the climate change challenges, the Outlook features 2 brand-new scenarios: the Carbon Off-set Compensation scenario and the Blue Hydrogen scenario. The Outlook has been reviewed and welcomed by the Forum's Member Countries and is expected to be officially released in January 2020, he added.
At the conclusion Secretary General reaffirmed, that the European countries remain largest consumer of natural gas. Due to that the GECF Member Countries are strongly committed to the reliable supplier's obligation to continue sustainable supplies to the region, covering 19% of total gas consumption.