All major energy scenarios are positive about the longterm future of gas. Whether it is the International Energy Agency (IEA), the World Energy Council (WEC), Shell or ExxonMobil, they all forecast significant growth of gas demand in the decades ahead. Indeed, in most scenarios, gas will be the world’s biggest energy source in 2050.

Does this mean we can look forward to a Golden Age forGas as predicted by the International Energy Agency (IEA)?

When we look at forecasts made in the past, for example by the IEA, we see that they have often managed to predict future developments quite well. Twenty years ago, the IEA forecasted that gas consumption would grow from 1916 bcm in 1991 to 3163 bcm in 2012. The actual demand in 2012 was 3093 bcm. This seems reassuring.

Yet, we also know that we cannot take any projections for granted. There are many challenges ahead for the gas industry that require timely and flexible responses.

In this report we will discuss the key developments that may significantly impact the gas market up to 2050, based on the work of International Gas Union (IGU) Programme Committee B on Strategy during the 2012-2015 triennium. Furthermore IGU Wise Persons Coby van der Linde, Daniel Yergin and Nobuo Tanaka give their vision on the long term outlook for gas.

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