Global gas investment will approach $9 trillion in 2050

Global gas investment will approach $9 trillion in 2050

According to a recent report by the Gas Exporting Countries Forum (GECF), global gas investment will total nearly $9 trillion by 2050, of which $8.2 trillion will be spent in the upstream sector and $0.74 trillion will be spent in the midstream sector.

The report predicts that global gas production is expected to increase from the current 4 trillion cubic meters to 5.3 trillion cubic meters by 2050.

According to the report, the Asia-Pacific region is expected to invest $2.1 trillion by 2050, while China, Australia and Indonesia will account for 80% of such investment in the region. North America is expected to invest $1.6 trillion, of which $677 billion will be invested in the United States and $630 billion will be invested in Canada; Eurasia is expected to invest $1.5 trillion; Africa is expected to invest $1.1 trillion, 88% of which will be allocated to Algeria, Egypt, Mozambique and Nigeria; The Middle East is expected to invest $1.1 trillion, 87% of which will go to Iran, Qatar, Saudi Arabia and the UAE; Latin America and Europe are expected to invest $455 billion and $330 billion, respectively.

The Gas Exporting Countries Forum estimates that of the $740 billion allocated to midstream gas investment by 2050, $438 billion will be spent on liquefaction facilities, $230 billion on regasification facilities, and the rest on pipelines.

According to the report, $203 billion will be invested in the Asia-Pacific region by 2050, of which 73% will be allocated to liquefaction and regasification facilities; North America will invest $143 billion, mainly allocated to liquefaction facilities; Africa will invest $120 billion; Eurasia will invest $102 billion; The Middle East will invest $89 billion in liquefaction facility expansion; Europe will invest $52 billion, with a focus on regasification facilities; Latin America will invest $33 billion to be allocated to regasification facilities.