Welcoming remarks by Mohamed Hamel, Secretary General, at the launch of the GECF Global Gas Outlook 2050 follows:

His Excellency Sheikh Dr Mishal Al-Thani, Member of the GECF Executive Board,

Honourable participants from GECF member countries,

Distinguished invitees from guest countries and peer organizations,

Ladies and gentlemen,

It is my great pleasure to welcome you to the launch of the 9th edition of GECF Global Gas Outlook.

I would like to extend my sincere appreciation to Sheikh Dr Mishal Al-Thani, member of the GECF Executive Board, for honoring us with his presence today. My gratitude also goes to all esteemed participants for joining us on this important occasion. As we commence the holy month of Ramadan, I offer my heartfelt wishes for peace, reflection, and spiritual renewal to all.

Ladies and gentlemen,

As you may recall, the previous edition of the Global Gas Outlook was unveiled on the sidelines of the 7th Summit of Heads of State and Government in Algiers in February last year. The edition we present today has been developed since then, with its core modeling conducted in 2024.

Vladimir Lenin once said: “There are decades where nothing happens, and there are weeks where decades happen.”

Surely, we can all agree that history has accelerated in recent weeks.

In light of this, another famous quote comes to mind: “Prediction is very difficult, especially when it concerns the future.” Often attributed to the Nobel Laureate Niels Bohr, this statement resonates profoundly today as the world enters an era of unprecedented uncertainty across geopolitical, economic, environmental, technological, and even societal dimensions.

First, seismic shifts in trade, energy, and environmental policies, coupled with evolving geopolitical realignments, are reshaping the fundamentals of global energy markets.

Second, energy security and affordability have reemerged as dominant priorities, often taking precedence over sustainability concerns as nations grapple with the intricate realities of transforming a vast and interdependent energy system.

Third, the rapid rise of artificial intelligence (AI) presents both disruptive challenges and transformative opportunities across economic and social structures. From the surging energy demand of power-intensive data centers to the paradoxes of efficiency-driven consumption, from enhancing total factor productivity and thus economic growth to optimizing oil and gas operations, the full impact of AI on the energy landscape remains complex and it is too early to fully project.

It is against this complex backdrop that we have pursued the Global Gas Outlook (GGO), remaining steadfast in analysing energy systems through the lens of sustainable development and the fundamental drivers of demographic expansion, economic growth, rising standards of living, and energy efficiency gains.

The findings of the GGO confirm our argument that only a diverse energy mix—tailored to the unique circumstances and priorities of individual countries, regions and cities— can ensure a balance of energy security, affordability, and sustainability.

2024, past year, lent further credence to these convictions, as global consumption of oil, gas, coal, and even wood soared to record levels despite rapid renewable growth, with natural gas accounting for 40% of the incremental energy demand, the highest share of any fuel.

We are convinced, now more than ever, that natural gas is not just a bridge to the future; it is an integral part of the future. Indeed, natural gas demand is expected to grow by 32% by 2050, showing no peak in sight. It increases in all regions except Europe, where energy policies and deindustrialization are driving a decline.

Indeed, natural gas remains indispensable for the transition from biomass to cleaner cooking fuels, switching from coal to gas, providing backup and stability to renewables, powering AI data centers, decarbonizing transport and hard to abate industries, and ensuring food security through fertilizer production.

Moreover, the Global Gas Outlook dispels the myth that natural gas investment can be halted. Meeting future demand requires a staggering USD 11.1 trillion investment in upstream and midstream.

In developing countries, particularly in Africa, natural gas is not merely an energy resource—it is a catalyst for growth, industrialization, and prosperity. Ensuring access to natural gas is not just an economic necessity but a moral obligation to lift people out of poverty.

The Sustainable Energy Scenario outlined in the GGO demonstrates that a balanced pathway exists—one that ensures energy security, affordability, and sustainability while ensuring that no one is left behind. This pathway requires even more natural gas.

Finally, I would like to emphasize the crucial role of GECF member countries. Endowed with vast natural gas resources and advanced technological expertise, they are at the forefront of the evolving energy landscape, playing a vital role in meeting the world's future energy needs. By 2050, their contribution is expected to approach half of global natural gas production, underscoring their strategic importance in shaping a stable and sustainable energy future.

Before closing, I would like to extend my gratitude to the dedicated GECF team for their tireless efforts in producing this insightful report. I also thank the GECF Technical and Economic Council, Member Country experts, and all contributors whose invaluable insights have enriched this Global Gas Outlook edition.

I also take this opportunity to reiterate my appreciation to all member countries for their valuable support, and in particular to the State of Qatar, for hosting the headquarters of the organization and for its unwavering support.

Thank you.