Putin: Global gas demand to reach 5.5 trillion cubic metres a year by 2050

Any attempts to exclude Russia from the global gas market have serious consequences, primarily imposing exorbitant costs on foreign consumers, Russian President Vladimir Putin said at the summit of the Gas Exporting Countries Forum (GECF).

Putin noted that Russian gas companies had faced certain challenges in recent years, including restrictions imposed by several countries.

Global demand for natural gas is expected to continue rising in the years ahead, making it essential to develop new gas fields, modernise processing facilities and invest in transportation infrastructure, he said.

Putin also expressed hope that his fellow GECF members shared this view, adding that discussions on encouraging long-term investment in the gas industry should be reflected in the organisation’s work and lead to concrete decisions.

Sanctions are often used as a tool of unfair competition, with serious consequences for all parties involved, Putin said.

He added that stabilising the global gas market would require efforts to resolve conflicts and lift sanctions.

According to Putin, the upward trend in global gas consumption is set to continue. By 2050, annual worldwide demand for natural gas is projected to reach 5.5 trillion cubic metres, while international gas supplies are expected to increase by approximately 50%.

The Russian president noted that global gas consumption rose by 1.2% in 2025, reaching 4.2 trillion cubic metres.