GECF to unveil ‘Global Gas Outlook 2050’
The Gas Exporting Countries Forum (GECF), the global platform of the leading gas producing nations, will be launching the latest edition of its flagship GECF Global Gas Outlook 2050 (GGO) on 15 February at 15:00hrs Doha time, with the presence of energy stakeholders from around the world.
As in previous years, the 2020 edition of the sought-after publication will encompass the full sweep of the gas industry as it reinforces its reputation as the only outlook in the world on natural gas – a fuel that is projected to be the world’s primary source of energy by mid-century.
The launch will be attended by HE Viktor Zubkov, Special Representative of the Russian President for Cooperation with the GECF and Chairman of the Board of Directors of Gazprom and HE Alexander Novak, Deputy Prime Minister of Russia, along with a bevy of energy industry peers. The GGO’s introduction will be presented by HE Yury Sentyurin, GECF Secretary General, who will also highlight its precise findings. The presentation will be followed by a panel discussion with participation of the Outlook’s co-authors – who are GECF senior experts – and a media briefing.
Last year’s launch ceremony was held in Qatar and chaired by HE Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, President and CEO of Qatar Petroleum. Due to the limitations imposed by COVID-19, the 2021 event will be held virtually for the first time.
Now in its fifth edition, the GGO aims to be a global reference for insights on natural gas markets and offers an impartial, facts-based, scientifically-grounded view on market drivers, evolution and predictions to help envision the world energy future over the 2050 forecast horizon. The Outlook is powered by the GECF Global Gas Model (GGM), a highly-granular econometric and statistical tool designed and developed in-house at the GECF Secretariat.
Throughout 2020, the GGM was revamped to be ever-more dynamic and is now capable of producing comprehensive energy balance forecasts for over 140 countries and 60 regions, spanning 35 fuels over 33 sectors, up to the year 2050. The Model’s energy and natural gas demand forecasts are derived from a set of scenario assumptions, based on over 500 indicators, from energy price data to macroeconomic trends, such as the impact of COVID-19 on future gas market developments.
The Global Gas Model and its pivotal publication Global Gas Outlook 2050 are rigorously managed by a versatile team of energy economics and forecasting experts at the GECF.
“The latest iteration of the Global Gas Model is its most advanced rendering to date, and allows us to discover current and emerging trends. These findings are being presented in the GECF Global Gas Outlook 2050 in the form of in-depth insights. The fifth edition of the Outlook is unique in that it is being made available at a time when the world is going through an extreme period of uncertainty in light of the COVID-19 pandemic and the global economic recovery,” announced HE Yury Sentyurin, GECF Secretary General.
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