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Natural gas will become increasingly vital in stabilising power systems as variable renewable energy (VRE) expands and extreme weather events intensify, the report found. Global electricity demand is projected to reach about 56,000 TWh by 2050, with most of that met by VRE. Installed renewable capacity, including storage, is expected to grow at a compound annual rate of 7.4%, but its intermittency requires dispatchable backup. “While batteries are well suited for sub-hourly and intra-day balancing, they lack the capacity to buffer supply across multiple days,” the IGU said. Gas and hydro generation remain essential for maintaining supply security during prolonged periods of low wind and solar output, known as dunkelflaute. It highlighted the need for gas-fired plants to cover extended shortfalls. Seasonal patterns also pose challenges, with solar output peaking in summer and falling in winter, while extreme heat, cold snaps and droughts intensify demand spikes. “Natural gas remains a competitive, flexible solution due to its technological maturity, lower deployment and spatial constraints, cost-effective capital intensity and broad infrastructure support,” the IGU said. But realising that potential requires investment in LNG infrastructure, storage and power-market reforms to ensure projects remain viable.
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