Global Gas Report 2023 Edition
The International Gas Union (IGU), Snam and knowledge partner Rystad Energy, today releases the 2023 Global Gas Report (GGR).
Global Gas Report 2023: The unprecedented demand uncertainty and insufficient level of investment in natural gas, low-carbon, and renewable gases are putting the energy transition at risk, undermining energy affordability, security, and sustainability.
Report Key Messages
- Having demonstrated significant resilience in the face of extreme shocks through 2022, the global gas industry came out of the most turbulent year in its history more agile and adaptable than ever, yet the global gas market is still in an unstable equilibrium in 2023.
- The gas market remains undersupplied, highly sensitive to fluctuations on supply and demand sides.
- Massive divergences across international energy and gas demand outlooks vis-à-vis low investments in natural gas, low carbon and renewable gases, fuels risk of worsened energy shocks toward 2030 and beyond.
- Natural gas, low carbon and renewable gases play a pivotal role in decarbonising energy systems around the world, helped by the adaptability of LNG infrastructure that delivers critically needed flexibility.
- A strengthened focus on comprehensive energy planning, low-carbon gases development, robust conservation measures to reduce demand, and CCS will determine the success of the energy transition.