Natural gas projects will receive a significant investment boost as it becomes the world’s primary energy source in 2026, and accounts for a quarter of the world’s energy by mid-century.
That’s according to DNV GL’s 2018 Energy Transition Outlook, an independent forecast of the world energy mix in the lead-up to 2050, that predicts global upstream gas capital expenditure to grow from $960bn in 2015, to a peak of $1.13 trillion in 2025.
Upstream gas operating expenditure is set to rise from $448bn in 2015 to $582bn in 2035, when operational spending will be at its highest.
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