GECF presents ‘Global Gas Outlook 2040’ in Vienna

Doha: The Doha-headquartered Gas Exporting Countries Forum (GECF) presented the 2018 edition of its ‘Global Gas Outlook 2040’ in Vienna, Austria on Friday, with support of the Ministry for Europe, Integration and Foreign Affairs of the Republic of Austria and with participation of Dr. Karin Kneissl, Opec Secretary-General Mohammad Sanusi Barkindo, IGU President Dr. Joe M Kang, IEF Secretary General Dr. Sun Xiansheng and the GECF Member Countries Ministers of Energy.

The Global Gas Outlook (GGO) is the only energy outlook worldwide that focuses solely on natural gas and it is the Forum’s flagship publication.  Natural gas is projected to have a significant role in the transformations taking place in the global energy market in years to come and with the 19 GECF members together representing 70 percent of the world’s proven gas reserves, 45 percent of global gas production, 64 percent of pipeline gas exports and 54 percent of LNG trade, reliable projections are essential.

The publication represents an impartial view on gas market evolution by highlighting the most likely developments that are going to occur in the medium- and long-term, based on assumptions regarding macroeconomic conditions, energy prices, and current energy policies.

This second edition of the publication is quantified using the GECF Global Gas Model — a unique and highly granular energy model developed at the GECF Secretariat — which includes various sub-models that each focus on one segment of the gas value chain.

Friday’s formal presentation of the Global Gas Outlook was introduced by the opening remarks of Dr. Sentyurin, Secretary General of the GECF and a welcome address by Minister Karin Kneissl, followed by a special guest speech by Viktor Zubkov, Russia’s Special Presidential Representative for Cooperation with the GECF and the Chairman of the Board of Directors of Gazprom.

The presentation delivered by Sokolov highlighted that the geopolitical context could dictate policy recommendations related to natural gas, especially in the European market. It is important to promote energy policies that ensure natural gas penetration, and to engage in national and global policy debates in support of natural gas.

Sokolov reinforced that the GECF believes that countries should advocate for policy measures that promote gas through cooperation and appropriated dialogue between producers and consumers.

They should also support investments in gas infrastructure and develop downstream operations in consuming markets to a larger extent — as policies that support the environmental advantages of natural gas and that advance gas-based technologies could be critical for long-term prospects.

The presentation of the GGO was followed by a Gala Dinner and awards ceremony coinciding with the 10th Anniversary of the GECF’s inception in 2018.

During the Gala dinner’s opening remarks, Dr. Sentyurin expressed the importance of natural gas as a clean and reliable energy source for sustainable development and its role in achieving the United Nations Sustainable Development Goals.

He also highlighted the the importance of collaboration to achieve this goal. After welcoming remarks delivered by Ambassador Désirée Schweitzer, the evening continued with an award ceremony which honoured Dr. Sun Xiansheng, Secretary General of the International Energy Forum and Dr. Joe M Kang, President of the International Gas Union for their commitment and contributions to the natural gas industry.

Both awardees thanked the GECF for the honor and friendship and Dr. Kang underlined the importance of cooperation, a view fully shared by the GECF.