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Snam, International Gas Union and The Boston Consulting Group Release the 2018 Global Gas Report: More Than 90% of Global Gas' Consumption Growth to 2040 Coming from Cities

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International Gas Union (IGU)

27 Jun, 2018, 20:00 GMT

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WASHINGTON, June 27, 2018 /PRNewswire/ --

- The report highlights the key trends in the global natural gas market and examines how these speak to the sector's future growth prospects

- In this second edition, the report considers how 2017 was an impressive year for gas demand growth, supported by increased LNG market liquidity and the growing role that gas is playing to meet more sustainable energy supply

- To continue this growth trajectory, the report calls on industry and policymakers to cooperate on ensuring the competitiveness, availability and sustainability of gas, and to focus on the special role that gas can play in cities

Snam, the International Gas Union (IGU) and The Boston Consulting Group (BCG) today launched the 2018 edition of the Global Gas Report at the World Gas Conference in Washington D.C.

     (Logo: http://photos.prnewswire.com/prnh/20151202/292697LOGO )

As the world experiences a series of rapidly evolving energy transitions across different geographies, economic sectors and energy sources, the 2018 Global Gas Report assesses the unique role that natural gas can play in the global energy mix to drive economic development while limiting environmental impacts.

Gas consumption is widely projected to grow in the long run under virtually all major scenarios (including the most aggressive low-carbon transition scenarios). Prominent forecasts also project gas to overtake coal as the second leading source of global energy consumption by 2035, behind oil. The majority of forecasters expect gas to grow from the current 22% to over 24% of the global energy mix by 2035.

Starting from the context of a strong increase in 2017 gas demand (preliminary data suggest that in 2017, global gas consumption experienced its strongest growth in over a decade at 3.7% year-over-year - more than double the average growth rate of the prior five years) and increasing market liquidity and availability thanks to the growing LNG market (+48 Bcm; +12% in 2017 vs average 1.6% in 2010-2016), the report highlights that, in order to continue strong growth, the industry must focus on three core levers:  

  • Cost Competitiveness - Improving the relative cost of gas to other energy sources through a combination of LNG cost efficiencies, pricing environmental externalities, and promotion of local gas production in markets around the world. This is especially important considering that over three quarters of forecast demand growth by 2040 comes from non-OECD regions.
  • Security of Supply - Enabling gas supply security through the development of enhanced networks and infrastructure, more flexible commercial models, and new modular access-enabling technologies. Rapidly developing gas infrastructure in Asia and Africa will be critical given the lack of access to gas in those regions today.
  • Sustainability - Promoting the environmental sustainability of gas through measures to reduce urban air pollution, develop low carbon technologies for gas, integrate renewable gas sources into existing infrastructure, and limit methane emissions. Reducing emissions through the gas supply chain will be critical in OECD markets in particular as more aggressive climate targets are implemented.

This year's report includes a special feature on the role and opportunities for gas in cities, given it provides specific advantages for air pollution, GHG emissions, heat intensity and scalability.

More than 90% of projected global gas consumption growth to 2040 is likely to come from cities. This will require significant infrastructure investment in developing countries, estimated between $35-55 billion per year according to the report.

The report calls for collaboration and conversation across the entire gas value chain, policymakers, and other key stakeholders, to properly recognize and address the opportunities - and challenges - facing the industry.

Marco Alverà, CEO of Snam, said: "Gas offers significant opportunities for more sustainable development. It will provide clean, reliable and affordable energy to millions of people in the developing world. Moreover, 90% of global gas growth is set to come from urban areas. That means that, as penetration grows in power generation, heating and transport, gas will help cities to become cleaner. The flexibility of gas and the ease with which it can be transported and stored make it an ideal partner for the growth of renewables. And gas is well on the way to becoming a renewable energy source itself, thanks to the development of green gas technologies. The challenge of securing growing amounts of energy that's cleaner and cheaper will only be met by working together across industries and geographies."

David Carroll, President of the IGU, noted: "This report showcases the excellent prospects for natural gas over the next few decades, particularly within urban environments. Natural gas combines high heating intensity and efficiency with low emissions and virtually no pollution, all while delivering energy for almost any use. These qualities make it unique as an abundant, flexible and cost-effective fuel, which can also address the environmental challenges in urban environments. Combined with growing urbanisation trends, this presents a significant opportunity for continued gas demand growth."

Ivan Marten, Vice Chairman of BCG's Energy Practice, commented: "The 2018 Global Gas Report showcases the valuable role of natural gas as an energy source in the global energy mix and for ensuring energy security around the world. The report also points out the need for concerted actions from a variety of stakeholders. These include the development of new business models and technologies from gas industry participants, effective policies from governments, and sustained capital commitments from financial institutions."

About Snam 

Snam is Europe's leading gas utility. Founded in 1941 as "Societal Nazionale Metanodotti," it has been building and managing sustainable and technologically advanced infrastructure guaranteeing energy security for over 75 years. Snam operates in Italy and, through subsidiaries, Austria (TAG and GCA), France (Teréga) and the United Kingdom (Interconnector UK). It is one of the main shareholders of TAP (Trans Adriatic Pipeline) and is the company most involved in projects for the creation of the Energy Union. First in Europe by transport network size (over 32,500 km in Italy, about 40,000 with international subsidiaries) and natural gas storage capacity (16.7 billion cubic meters in Italy, about 20 billion with international subsidiaries), Snam manages the first liquefied natural gas (LNG) plant built in Italy and is a shareholder of the country's main terminal. Snam's business model is based on sustainable growth, transparency, nurturing talent, and development of local areas by dialoguing with communities. It fosters sustainable mobility, expands into energy efficiency, and invests in biomethane and innovative technologies to increase the use of renewable gas, a key resource of the green economy. www.snam.it

About International Gas Union (IGU) 

The International Gas Union (IGU) was founded in 1931 and is a worldwide non-profit organisation aimed at promoting the political, technical and economic progress of the gas industry. The Union has more than 140 members worldwide on all continents, representing approximately 97% of the world gas market. The members of the IGU are national associations and corporations within the gas industry worldwide. The IGU organises the World Gas Conference (WGC) every three years, with the forthcoming WGC taking place in Washington, D.C., United States, in June 2018. The IGU's working organisation covers all aspects of the gas industry from exploration and production, storage, LNG, distribution and natural gas utilisation in all market segments. www.igu.org

About The Boston Consulting Group (BCG) 

The Boston Consulting Group (BCG) is a global management consulting firm and the world's leading advisor on business strategy. We partner with clients from the private, public, and not-for-profit sectors in all regions to identify their highest-value opportunities, address their most critical challenges, and transform their enterprises. Our customized approach combines deep insight into the dynamics of companies and markets with close collaboration at all levels of the client organization. This ensures that our clients achieve sustainable competitive advantage, build more capable organizations, and secure lasting results. Founded in 1963, BCG is a private company with offices in more than 90 cities in 50 countries. For more information, please visit www.bcg.com

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