Gazprom shrugs off renewables with prediction of rising gas demand – Reuters

Gazprom shrugs off renewables with prediction of rising gas demand – Reuters

Russian gas giant Gazprom (GAZP.MM) expects demand for natural gas to grow in the coming decades and for it to play a bigger role in energy consumption than renewable sources and hydrogen, a company official said on Tuesday.

The forecasts runs counter to a global trend for an energy transition from fossil fuels to the use of environment-friendly renewable sources of energy, such as solar and wind power, in order to slow climate change.

Gazprom Deputy Chief Executive Oleg Aksyutin told an online briefing the company was still considering a carbon neutrality scenario as part of its 2050 low-carbon development strategy. It plans to complete work on the strategy by May 2022.