Russia: 'Global gas demand will increase by 50%' by 2040 — Novak at GECF

Russian Minister of Energy, Alexander Novak announced that “global gas demand will increase by 50 percent” by the year 2040, when giving an opening speech at the 19th Ministerial Meeting of the Gas Exporting Countries Forum (GECF), in Moscow, on Wednesday. Russian Minister said that “according to the forecasts of the international energy agency, by 2040, global gas demand will increase by 50... Еще percent, depending on the scenario and revision of this indicator, and is largely based on the current climate agenda.» He outlined that the countries participating in the forum share almost 60 percent of the world's proven natural gas reserves. Minister of Energy explained that a combination of factors places pressure on the gas industry and so it is vital that OPEC countries uphold the interests of gas exporters through “scientifically grounded arguments and a calm dialogue with sceptics.” Russian Energy Week runs from 4 October until 7 October in Moscow and St. Petersburg as a platform for industries such as oil, gas, coal and petrochemical to meet and discuss.

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