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Global gas consumption to grow by 26% by 2050 — Gazprom

The consensus forecast anticipates that global oil consumption will drop by 24% and coal consumption will plunge by 13% by 2050 against 2023

MOSCOW, January 23. /TASS/. A consensus forecast prepared by Gazprom anticipates a rise in global energy consumption by 22% by 2050, with gas consumption volumes to gain 26%, deputy department head of the Russian gas giant said.

"So far, an increase of energy consumption worldwide is expected to be 22% by 2050. Oil will go down in absolute quantities; nuclear [power], hydropower and renewable energy resources will grow. We see at the same time that the largest absolute growth is expected in natural gas consumption - by 26%," Alexander Ishkov said.

The consensus forecast anticipates that global oil consumption will drop by 24% and coal consumption will plunge by 13% by 2050 against 2023. At the same time, consumption will grow by 5% for power generated by nuclear power plants, by 3% for hydropower, and by 17% for renewable energy sources.

Gazprom intends to reduce carbon dioxide emissions by almost 60 mln metric tons by 2030 on account of gas infrastructure development in regions and broader use of natural gas vehicle fuel.

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