La energy demand is growing without respite, while investments are unable to keep up, risking compromising the sustainability objectives for 2030. This is what emerges from Global Gas Report 2024, presented byInternational Gas Union (Igu), Snam e Rystad Energy during the ONS Conference in Stavanger.
The EFSA and ECDC's One Health report
I global gas markets, in particular, find themselves in a situation of equilibrium precarious. Demand increased by 1,5% in 2023 and is expected to further accelerate to 2,1% by the end of 2024. Asia, in particular, continues to be the main driver of this growth, while North America and the Middle East are confirmed as the main exporters. However, without a significant increase in production, the report warns that we could be facing a supply deficit global growth of 22% by 2030, with an increasing risk if demand continues to rise.
The report also highlights a contradiction: despite efforts to reduce emissions, the carbon has returned to being one of the main sources of energy in 2023, contributing significantly to global emissions. While Europe, despite an industrial decline, and North America have seen increased energy demand, Asia and Africa continue to grow rapidly, with the latter still grappling with the challenge of equitable access to energy. electricity.
To meet these challenges and reduce greenhouse gas emissions, the report highlights the need to increase investments not only in the offer of natural gas, but also in innovative technologies such as biomethane, the capture and carbon storage (CCS) and thelow-emission hydrogen of carbon. Currently, natural gas represents an immediate opportunity to reduce emissions from coal and oil, but its effectiveness depends on how quickly these technologies can be developed and implemented on a large scale.
Comments
The president of the IGU, Li Yalan, highlighted the importance of finding a balance between growing energy demand and long-term sustainability goals, saying that “innovative solutions and flexible policies are needed to navigate this highly uncertain energy landscape.”
The CEO of Snam, Stefano Venier, reiterated that the energy transition is a unique challenge, characterized by geopolitical and technological obstacles, but also highlighted how natural gas and related infrastructure "represent a critical element of sustainable resilience for the global energy system, while new green molecules and low-carbon emissions will play an essential role in achieving a just and technology-neutral transition":
Finally, Jarand Rystad, CEO of Rystad Energy, highlighted how natural gas, already cheaper and cleaner than oil and coal, is destined to become the main source of energy by 2050, progressively overtaking coal by 2030. “We are proud to support the IGU and Snam in detailing these key market trends and the future trajectory of natural gas,” concluded Rystad.
