GECF Global Gas Outlook 2050
In an era characterized by energy transition and in a world facing several economic and health challenges, it has never been as critical as of now to be understanding the key drivers shaping the future of global energy. The GECF Global Gas Outlook 2050 (GECF GGO) provides long-term energy projections, based on assumptions regarding macroeconomic conditions, energy prices, and policies.
The GECF GGO is the Forum’s annual flagship publication. It is the only energy outlook worldwide to focus solely on natural gas. The GECF GGO aims to be a global reference for insights on natural gas markets and offers a view on natural gas market drivers, evolution and predictions to help to envision the world energy future over the 2050 forecast horizon.
The GECF GGO 2050 consists of 6 chapters. Chapters 1 and 2 introduce key global gas demand assumptions, including economic, energy price and policy assumptions, as well as environmental policy developments considering the global challenges witnessed in 2020 and the wide impact of COVID-19 on the global health and economies. Chapter 3 highlights energy and gas demand trends, followed by natural gas supply projections in Chapter 4, which include global gas resources, upstream and unconventional production. Chapter 5 is dedicated to natural gas trade and investment outcomes resulting from the equilibrium between supply and demand, as well as pipeline, LNG liquefaction and regasification capacity assumptions, natural gas contracts, and the corresponding investment figures. It takes into consideration gas market constraints in terms of supply infrastructure, international supply contracts and gas supply policies (e.g., the satisfaction of domestic gas demand as a priority for some countries).
For the 2021 Edition of the GGO, the final chapter casts a critical eye over significant developments in the energy transition, analyzing them from an oil and gas perspective and weighing up the opportunities they could present in the Energy Transition Scenario (ETS) and Hydrogen Scenario (HS). The GECF’s ETS has a view of the energy transition and fundamental transformation of the global energy sector, induced by a pressuring climate change mitigation agenda and a call to decarbonize the global economy by mid-century. The GECF’s HS accounts for all the announced hydrogen strategies and adds to a higher uptake of natural gas decarbonization with the use of pre-combustion CCS/CCUS.
The 2021 Edition of the GGO was released on the 28th of February 2022 in Doha, Qatar.