Demand for natural gas will increase by 36%: Minister
The demand for natural gas will increase by 36% by 2050, according to the forecasts stipulated in the Outlook of the Gas Exporting Countries Forum (GECF), Iran’s Oil Minister Javad Owji said on Friday.
The minister, who made the remarks during his speech at the Extraordinary Ministerial Meeting of the 7th GECF Summit of Heads of State and Government in Algiers, the capital of Algeria, added that by 2025, the share of natural gas in the world’s energy basket is expected to exceed that of coal, Shana reported.
By 2040, natural gas along with renewables may improve air quality which is to become the main source of energy in the world, he noted adding replacing traditional fuels could provide a possible and cost-effective path for energy transition.
Development of the gas industry and materialization of supply and demand security in the world demand establishment of global peace and depoliticization of trade energy, Owji said.
“Geopolitical tensions and the application of any unilateral or multilateral sanctions are in contradiction with the principles and standards of international law and jeopardize the energy security of societies.”
The geopolitical and regional developments that occurred in the last two years have shown that natural gas and its international trade are still considered a vital factor in the energy security of the human societies of the world, he noted.
The minister added that despite the steps taken to achieve environmental goals and liberalization of energy markets, whenever global energy security is jeopardized, energy policymakers give priority to ensuring their country’s energy security over other goals.