Natural gas is expected to play a growing role in power generation by providing reliable and flexible supply as renewable energy capacity expands. 

The share of gas demand attributed to power generation is forecast to rise from 35 per cent in 2024 to 39 per cent by 2055, while demand for residential applications, including heating, is expected to decline.

Abubakar Abbas, senior energy forecast analyst at the Gas Exporting Countries Forum (GECF) said natural gas and renewable energy would account for a significant share of future demand growth, creating investment opportunities across gas production, infrastructure and international trade.

The changing energy mix is also expected to reshape global gas trade, with liquefied natural gas (LNG) playing a greater role in connecting producing regions with international markets. 

North America, Eurasia, the Middle East, Africa and Latin America are expected to contribute to future supply, while demand growth is anticipated across several regions, including Africa and the Middle East.

Abbas highlighted the scale of investment required to meet projected consumption, noting that 86 per cent of global natural gas production by 2055 is expected to come from fields that are not currently producing. 

This will require accelerated exploration, resource development and project execution.

Meanwhile, demand for more carbon-intensive fuels such as coal is expected to decline as natural gas and renewables assume greater roles in meeting global energy needs.