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New Natural Gas Required: Rystad

NATURAL GAS

Global gas demand is expected to rise in the next decade which will require a 12.5% surge in production between 2023-2030, according to Rystad Energy

  • Rystad forecasts that even in scenarios of 1.9°C and 2.5°C warming and with growth in renewable energy sources, existing gas fields will not meet global demand, requiring rapid growth in unconventional gas supply.
  • The share of unconventional gas in global production will increase to more than 30% by 2030.
  • Global gas demand will peak in the mid-2030s. However, currently producing and underdeveloped gas fields are expected to peak production in the next few years before declining.
  • Just 32% of conventional gas volumes discovered since 2010 are producing, while over 50% have yet to be approved for development.

Source: Rystad Energy

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