Natural gas production significantly increases during COVID-19 pandemic - GECF

By Trend

Natural gas production has increased significantly during the COVID 19 coronavirus pandemic, Secretary General of the Gas Exporting Countries Forum (GECF) Mohamed Hamel said at the 27th Energy Forum in Baku, Trend reports.

According to him, natural gas production will continue to grow in the short term.

Hamel noted that investments in this sector will be significantly increased, and cost of gas will grow.

"World's population will grow rapidly by 2050, which will lead to an increase in demand for natural gas. Today, we assume that significant growth will be observed in the Asian region. We predict that natural gas production in the medium-term will be in second place after renewable energy sources (RES)," Hamel said.

Hamel also noted the need to introduce modern technologies in the production process.

Speaking about decarbonization, Hamel added that hydrogen production will increase to 600,000 tons by 2050.