Oil and natural gas will retain their share in the global energy mix. This claim was made by Oleg Aksyutin, Deputy Chairman of the Gazprom Management Committee – Head of the Prospective Development Department, at the SPIEF 2025 session titled “The Gas Industry: An Eastward Shift”, which was moderated by Sergey Brilev, President of the Global Energy Association.
“Overall, they will account for roughly half of the global energy mix. Experts estimate that 26% of the global fuel and energy mix will come from oil, with another 26% coming from natural gas based on demand expected in 2050,” he said.
Demand for gas is expected to grow primarily in the Asia-Pacific and a number of rapidly developing countries, with the exception of North America and Europe.
Mr. Aksyutin notes that gas demand in the EU and the UK has dropped by 100 billion m³, falling to the consumption level observed 30 years ago. Meanwhile, gas demand in Asia-Pacific countries is expected to grow by 100 billion m³ in the next five years.
“There is a logical explanation for this: half of the growth in economic production will take place in the Asia-Pacific. By 2050, expected economic growth will foster an increase in global demand for all energy sources by almost 20%,” the Gazprom official explained.
