Rising Energy Demand in All Regions and Underinvestment in Gas and Clean Energy Jeopardise Global Energy Supply, with 2030 Energy Targets Visibly Out of Reach.

Should gas demand continue to grow as in the last 4 years, without additional production development, a 22% global supply shortfall is expected by 2030. If demand continues to strengthen, the shortfall will be more pronounced. This underscores the urgent need to scale up investments. Should gas demand continue to grow as in the last 4 years, without additional production development, a 22% global supply shortfall is expected by 2030.If demand continues to strengthen, the shortfall will be...

Norway, 27/08/2024 (informazione.it - comunicati stampa - energia)

If demand continues to strengthen, the shortfall will be more pronounced. This underscores the urgent need to scale up investments.

  If current energy demand and supply trends persist, 2030 targets outlined in policy driven decarbonisation scenarios will most likely be missed. In fact, despite efforts to enhance efficiency and ongoing industrial decline, Europe has experienced energy demand growth. In North America , energy demand has surpassed 2019 levels and continues to climb, fuelled by the transport sector and AI data centres. Asia's demand is also surging, particularly in the industrial sectors of India and China . Meanwhile, Africa's energy demand is growing faster than in most regions, driven by urban development, though it still falls short of the levels required for full energy access, as equitable electricity access remains a significant challenge in Africa and parts of South America. 

 Natural gas today provides an immediate opportunity to cut emissions from coal by 50% and from oil by 30% through cost-effective switching. Biomethane is a direct substitution for natural gas. Today, its scale is significantly below potential at roughly 1% of the natural gas market, and it is primarily produced in North America and Europe . However, new centres of production are emerging in hubs like China and India . CO capture capacity, a crucial technology for a successful energy transition, is also gaining momentum, but its scale is still far below what is needed, same as for biomethane and low-carbon hydrogen. These technologies will play a critical role in decarbonising energy supply (especially in hard-to-abate sectors) and ensuring its resilience. Scaling them is essential, calling for urgent investment and enabling policies to start building the growing volumes of project proposals.

 

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The 2024 Edition of the Global Gas Report is a collaborative effort by IGU and Snam, produced by Rystad Energy. It seeks to deliver global gas industry insights about the sector and to inform its stakeholders, partners, and global decision makers about the state of play today, highlighting future priorities. This is the sixth annual release, with the first Global Gas Report by the IGU and Snam delivered for the 2018 World Gas Conference.

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