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News // Oil and gas worldwide

Russia, Iran, the U.S. and China will be the world’s top 4 suppliers of natural gas by 2040

26 February 2019 , 18:00Neftegaz.RU522

Teheran, February 26 - Neftegaz.RU. The former secretary general of the Gas Exporting Countries Forum (GECF) said according to the latest estimates Iran, China, the U.S. and Russia will be the world’s top 4 suppliers of natural gas by 2040. Mohammad Hossein Adeli made the remarks during the 6th Iran International Drilling Congress and Exhibition.

 

Pointing to the increase in the urban population in the future, the official noted that energy demand [and particularly demand for natural gas] will significantly increase in the near future.

 

«By 2040, the demand for natural gas in the world will increase by about 50 % (by 1,718 billion m3) and will reach 5,427 billion m3», Mohammad Hossein Adeli said.

 

According to the BP Statistical Review of World Energy, Iran ranks 1st in the world in terms of gas reserves and the country holds around 18 % of total proven gas reserves globally.

According to the IEA, natural gas currently supplies 22 % of the world’s energy needs, and accounts for nearly a quarter of electricity generation worldwide, it is used and transported in various forms including LNG, CNG, and LPG as well as through pipelines.

 

In recent years the demand for gas as a clearer fuel has increased drastically and natural gas market has become more globalized.

 

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