Non-OECD Countries to Become Largest Natural Gas Importers by 2050 -EIA
Countries that are not members of the Organization for Economic Cooperation and Development, or OECD, are set to become the largest natural gas importers by 2050, overtaking the countries of OECD Europe, the US Energy Information Administration said in a report.
In 2020, OECD European countries were the largest importers of natural gas, followed by Japan and South Korea combined, then non-OECD Asia, which includes China and India, the EIA said.
Continued economic growth in non-OECD Asia, led by China and India, is expected to more than double net imports of natural gas by 2050, the agency said. In response to the demand growth, global natural gas production is also forecast to increase along with exports from the US, Russia and the Middle East.
The EIA forecasts that Russia will show the largest growth in net exports and remain the largest net exporter of natural gas by 2050, helped by close proximity to Europe and Asia through established pipeline infrastructure, potential pipeline additions and liquefied natural gas exports.
Meanwhile, the US is projected to see its most rapid period of growth during the next 10 years, with net exports of natural gas nearly doubling as it expands its LNG infrastructure and boosts natural gas volumes, the EIA noted. # Non-OECD Countries to Become Largest Natural Gas Importers by 2050 -EIA
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