"The demand for gas is increasing globally. It will grow by at least 10-12% over the next 20 years, up to 4.5-4.6 trillion cubic meters of gas per year. However, the potential is even greater," Sorokin said on the sidelines of the Eastern Economic Forum (EEF).
At the same time, global demand for liquefied natural gas (LNG) is expected to rise to 580–600 million tonnes over the next six to seven years, up from the current 400 million tonnes. Over the next 20 years, demand could reach up to 700 million tonnes, which would allow LNG to surpass pipeline gas in terms of trade, Sorokin added.
The Eastern Economic Forum began on Tuesday and will run through Friday. It is being hosted by the Far Eastern Federal University in Russia's Pacific coast city of Vladivostok. Sputnik is the general information partner of the EEF 2024.