LNG's share of global gas trade to reach 64%
The Gas Exporting Countries Forum (GECF) forecasts that liquefied natural gas (LNG) will account for 64% of global natural gas trade by 2055.
Speaking at a ministerial meeting in Moscow, GECF Secretary General Philip Mshelbila stated that LNG is connecting energy markets across different regions and has become one of the key drivers of growth in global natural gas trade.
Mshelbila said global natural gas demand is expected to reach 5.2 trillion cubic meters annually by 2055. He also projected that 86% of global natural gas production during that period would come from fields that have yet to be developed. Highlighting the GECF's efforts to expand its membership, Mshelbila emphasized that LNG's importance in international energy trade is set to increase further in the coming years.
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