About 70 % of this increased demand will come from Asia and North America. And the rise will be linked to a more active shift by consumers from coal to gas for power generation, industry and household consumption and increased use for gas engine fuel.
By 2050, Novak said, the share of natural gas in the world energy balance could amount to 28 %. And the volume of the LNG market could double or more. The world economy will need 18.19 billion tonnes of oil equivalent of primary energy.
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Achieving world-wide carbon neutrality by 2050 will require about $275 trillion in spending by the world economy.
World-wide capital expenditure on oil and gas exploration and production will rise by 18 % to $355.1 billion), according to the results of a poll of 170 oil and gas companies conducted by Barclays Bank in the period from 16th November to 14th December.
The first sea shipment of liquefied hydrogen will operate between the Port of Hastings on Australia’s southeast coast to Kobe, on the Japanese island of Honshu, according to an announcement by HySTRA, the CO₂- free Hydrogen Energy Supply-chain Technology Research Association.
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