Moscow:Global demand for natural gas is projected to continue its rapid growth, despite a series of global crises and evolving strategies regarding energy supply security. This trend is prompting gas companies to adopt a more strategic approach concerning investments, aiming to enhance the resilience of their supply chains, according to Philip Mshelbila, Secretary-General of the Gas Exporting Countries Forum (GECF), in a recent interview with Russia's Vesti news portal.

According to Azeri-Press news agency, Mshelbila discussed how investment patterns among major global gas companies have shifted in recent years. Over the past six years, the industry has faced three significant crises the COVID-19 pandemic, which caused a steep decline in demand; the conflict in Ukraine, which led to a consumer boycott of Russian gas; and logistical challenges that have affected the delivery of gas to markets. These crises have resulted in similar outcomes, with consumers struggling to secure the necessary volumes of gas due to issues with physical supplies, commercial factors, and trust.

Mshelbila emphasized that investors are considering long-term trends, noting that GECF forecasts indicate a substantial increase in natural gas demand over the next three decades. The demand is expected to rise by 31%, with natural gas's share in the energy mix increasing from 23% to 26%. This growth is attributed to natural gas being a cleaner fuel compared to other hydrocarbons and its accessibility under normal conditions, along with its critical role in facilitating the energy transition and addressing climate change.

He highlighted that the expected long-term demand will continue to attract investments in the sector, albeit with a more selective and strategic focus. Companies must understand not only where to allocate resources but also consider production locations, sales markets, delivery routes, and potential supply chain disruptions. This strategic orientation is crucial for maintaining supply chain resilience, even during crises.