Natural Gas Consumption Increasing in Every Scenario, as U.S.-Driven LNG Demand Spurs Growth, Says BP

U.S. LNG exports are forecast to more than double by 2030 from 2022 levels, with domestic natural gas consumption declining “only slightly” over the next 25 years, according to BP plc.

BP’s chief economist Spencer Dale explained the London-based supermajor’s projections to 2050 during a webcast on Wednesday. BP’s respected Energy Outlook 2024 is the 11th annual forecast about the world’s energy economy.

BP’s economist team tested projections for energy consumption using a Current Trajectory and Net Zero scenario to explore the range of possible outcomes to 2050. In both scenarios, natural gas consumption is seen rising.