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New gas consuming region evolving globally — Gazprom

The role of Global South countries in gas consumption is growing, Alexey Miller noted

ST. PETERSBURG, October 10. /TASS/. A new gas consuming region is currently evolving in the world and this is a unique phenomenon, Gazprom CEO Alexey Miller said at the St. Petersburg International Gas Forum.

"It should be noted that we see, evidence and participate in an absolute unique phenomenon - evolution of a new sustainable gas region, which is outlined, I would determine, by Central, South Asia, the Caucasus, the Far East, and with further establishment of large export-oriented corridors in the direction of Northeast Asia," the chief executive said.

The role of Global South countries in gas consumption is growing, Miller noted. "Countries of the Global South consumed 45% of the global gas demand 25 years ago. They are currently consuming 55% of the global gas demand. According to our estimates, the volume of gas consumption by these countries will be 70% in the global energy balance by 2050," he added.