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Gazprom CEO states record gas consumption in the world in 2024

"By 2050, global gas consumption will increase by almost a third," Alexey Miller said

ST. PETERSBURG, June 19. /TASS/. Global gas consumption in 2024 reached a record level and will grow by another third by 2050 thanks to the key contribution of Asia-Pacific countries, Gazprom CEO Alexey Miller said at the St. Petersburg International Economic Forum.

"In 2024, global gas consumption reached a record high of 4.17 trillion cubic meters, increasing by 100 billion cubic meters over the year. Until 2050, global gas demand will grow at a rate that exceeds the growth rate of energy consumption in general by 1.5 times. Thus, by 2050, global gas consumption will increase by almost a third," the head of Gazprom said.

"The countries of the Asia-Pacific region will play a key role in this growth. In 2024, they accounted for almost 50% of global GDP growth. To maintain high rates of economic growth, the region will need significant volumes of natural gas," Miller added.

At the forum, Miller and Vice Premier of the State Council of the People's Republic of China Ding Xuexiang discussed strategic cooperation in the gas sector. The meeting highly praised the interaction of the parties as part of the project to supply Russian gas to China via the eastern route.

Miller and Xuexiang also discussed promising projects in the gas sector. The parties expressed their intention to strengthen mutually beneficial partnership aimed at developing the economies and well-being of the citizens of Russia and China.

The St. Petersburg International Economic Forum (SPIEF) is taking place on June 18-21. This year, the event is held under the theme "Shared Values: The Foundation of Growth in a Multipolar World." The Roscongress Foundation is the organizer of the St. Petersburg International Economic Forum. TASS is its information partner.

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