Global natural gas production is expected to reach 5.3 trillion cubic meters by 2050, up from the current 4 trillion cubic meters, the report shows.
The realization of this target requires global natural gas investments in the upstream and midstream sectors up to 2050. The Asia-Pacific region and North America will lead these gas investments, followed by Eurasia, Africa, the Middle East, Latin America and Europe.
- Asia Pacific to receive largest share of investments
According to GECF, the Asia Pacific region will receive the largest portion of global natural gas investments in the upstream sector up to 2050, totaling $2.1 trillion.
The report forecasts that China, Australia and Indonesia will account for 80% of these investments in the region, with China leading the way with $650 billion.
North America is expected to invest $1.6 trillion over the same time period, with the majority of $677 billion to be invested in North America during the same time period, followed by Canada with $630 billion.
In Eurasia, $1.5 trillion is expected to be directed to investments over the same period, 70% of which Russia will make.
Africa is set to invest $1.1 trillion in gas production by 2050, 88% of which will be designated for Algeria, Egypt, Mozambique and Nigeria.
In the Middle East, investments of $1.1 trillion over the same period are anticipated, 87% of which will be targeted for Iran, Qatar, Saudi Arabia and the United Arab Emirates.
Elsewhere, Latin America and Europe are expected to invest $455 billion and $330 billion, respectively.
- $438 billion to be invested in global natural gas liquefaction infrastructure
Of the $740 billion to be allocated to natural gas midstream investments up to 2050, GECF estimates that $438 billion will be directed to natural gas liquefaction, $230 billion to regasification infrastructure and the remaining amount to pipelines.
In the Asia Pacific region, the report says that $203 billion will be invested up to 2050, with 73% to be allocated to liquefied natural gas (LNG) and regasification.
In North America, $143 billion will be mainly allocated to LNG infrastructure.
In Africa, $120 billion will be directed at natural gas midstream infrastructure by 2050, the majority of which will be invested in Mozambique, Tanzania, Mauritania, Nigeria and Senegal.
In Eurasia, investments of $102 billion are anticipated for midstream infrastructure. Russia's expansion of LNG infrastructure and increased investments in pipelines will account for a significant share of these investments.
In the Middle East, investments of $89 billion will be allocated for LNG infrastructure expansion. Around $52 billion will be allocated to midstream infrastructure in Europe, focusing on regasification infrastructure, and up to $33 billion will be allocated to mainly regasification infrastructure in Latin America.
(Anadolu Agency, March 22, 2024)