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Accelerated energy transition 2-degree scenario (2019): what happens to the gas industry?
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
The industry is still recovering from the coronavirus pandemic and commodity price crash. But throughout the crises, decarbonisation has remained high on the industry’s agenda, and key players continue to commit to their energy transition targets. Wood Mackenzie has developed an Accelerated Energy Transition Scenario - 2 (AET-2), which considers how the world can limit global warming under 2 ˚C by 2050. We have utilised our new Global Gas Model Next Generation to understand the impact of the AET-2 scenario on global gas supply and prices, supply mixes in key regions as well as the global LNG outlook.
Table of contents
- Executive summary
- Gas demand is resilient, but the risks grow
- Despite pressure on gas demand, Asia still needs LNG
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European import dependency will persist
- Russian piped flows to Europe – how much of the market will Russia take?
- US – energy transition impacts cost curve of gas
- Are new LNG projects still needed?
- Price implications
- What this means for global gas supply
- Bumpy road ahead
- Appendix
Tables and charts
This report includes the following images and tables:
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Global carbon emissionsCAGR by fuelsGlobal gas demand by scenario
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Gas demand change 2019-40 – comparison of scenarios2040 Asian gas balance – AET-2 vs base caseLNG supply/demand balanceTop LNG exportersDES costs to Japan of selected LNG projects*Price outlookChanges to global supply by status in 2040Stranded gas (discovered), bcm@40MJ/m3*Europe supply mix
What's included
This report contains:
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