Addressing an expert panel at the External Relations Council of Iran (ERCI), Mohammad Hossein Adeli said nearly 80% of energy demand in the world by 2040 will be supplied by fossil fuels and the share of natural gas will reach 26% of the global demand for energy from the current 21% in 2015.
He said the global demand for energy will grow 60% by the year and the OACD countries will have the biggest growth in their demand for energy by 231%.
In Africa and Latin America, energy demand will grow by 11,9% and 66% respectively.
He also said new sectors including maritime transportation have signaled interest to consume gas as a cleaner energy carrier.
He further said global gas reserves are estimated to hit 492 tcm of which only 200tcm is proven and the rest is based on speculations.
The GECF chief added that investments for developing gas reserves cover only less than 50% of global reserves while 21% of investments concern ongoing projects, 20% are allocated to new projects and 9% are unconventional gas projects.
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