GECF highlights the role of Turkmenistan in growing CIS gas exporting capacity
The Gas Exporting Countries Forum (GECF) has issued recently one of its major analytical publication “Global Gas Outlook 2040 - 2017 Edition”. The report was prepared by the organization’s Secretariat after thorough review of gas market trends during the 2017, and following discussions with the Technical and Economic Council, as well as consultation with other major institutions.
The analysis is based also on Outlook’s October 2017 Update, which incorporates present and future gas supply by type and cost, energy demand forecasting modules, and the pipeline and LNG infrastructure that links demand and supply.
According to the publication, the CIS will be the largest exporter over the entire period covered. In 2040, the share of the CIS market in the global gas exports will be 40%.
Turkmenistan is one of the dominating countries, which contribute to this progressive trend. Turkmenistan will see annual growth rates of 3.5%, increasing annual export volumes by 84 billion cu m by 2040, says the report.
Among other major contributors are Russia, Azerbaijan, and Uzbekistan.
The spreading out of pipeline infrastructure from the CIS to Europe and Asia is a key factor of these promising indicators, in particular, pipeline expansion to China.
The GECF Outlook forecasts that, by 2040, the global population will increase by 1.7 billion people and GDP per capita will grow by 80%. These demographic and economic trends will encourage upward tendency in energy demand.
Global gas consumption will upturn by 53% in 2017-2040 and will reach 5395 billion cu m in 2040.
GECF is an intergovernmental organization, established in May 2001 and gathering leading gas producers, aimed at closer coordination and strengthening cooperation through sharing experiences, information and data. Its permanent Secretariat is located in Doha, Qatar. Forum consists of 12 members and 7 observer members. The member-countries are Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Russia, Trinidad and Tobago, the United Arab Emirates and Venezuela. The observers are Azerbaijan, Iraq, Kazakhstan, the Netherlands, Norway, Oman and Peru. GECF represents more than two-thirds of the world‘s proven gas reserves, almost half of global natural gas production, and around two-thirds of gas exports.
The GECF Global Gas Outlook 2040 - 2017 Edition is available here: https://www.gecf.org/events/gecf-global-gas-outlook-2040-2017-edition
