Haitham Al Ghais, Opec Secretary General stressed the essential role of oil and gas as affordable, reliable energy sources to meet growing global demand, at the Sixth High-Level Meeting of the Organisation of the Petroleum Exporting Countries (Opec) – Gas Exporting Countries Forum (GECF) Energy Dialogue in Vienna.

He highlighted that innovation and technology are key to reducing emissions while satisfying future energy needs and emphasised adopting realistic approaches to achieving a sustainable energy future.

Al Ghais also called for clear, fact-based communication to ensure a long-term, investment-friendly climate benefiting both producers and consumers.

Global hydrocarbon demand continues to rise, with natural gas expected to grow 1.6 per cent in 2025 and oil demand projected to increase by 1.3 million barrels per day.

Opec’s World Oil Outlook forecasts a 23 per cent rise in global energy demand by 2050, with oil demand reaching 123 mb/d and oil and gas maintaining over 50 per cent of the energy mix.

Mohamed Hamel, GECF Secretary General highlighted natural gas’s pivotal role in sustainable development, energy security, and reducing energy poverty.

He noted that global gas demand could rise over 32 per cent by 2050, driven by population growth, economic expansion, and improved living standards.

Hamel also raised concerns over EU regulations such as MER, CSDDD, and CBAM, citing potential risks to energy security and global cooperation.

Both Opec and GECF cautioned against underinvestment in the sector, projecting that $11.1 trillion and $18.2 trillion will be needed for gas and oil, respectively, to meet long-term demand.