Managerial Issues Regarding the Role of Natural Gas in the Transition of Energy and the Impact of Natural Gas Consumption on the GDP of Selected Countries

Abstract

Natural gas is considered an important bridge in the transition of energy in the world. However, the development and management of unconventional gas now face many challenges. This paper aims to provide an overview of what would be required to formulate and implement the trend of energy transition and natural gas use in the world. Selected managerial issues regarding the role of natural gas are presented, including chosen statistical data on natural gas consumption, forecasts for the demand for natural gas, and the potential of unconventional gas. The empirical part of the study examines the impact of natural gas consumption on the GDP of 14 G20 countries during the period of 1994 to 2018. The pooled mean group model (PMG) is employed in this study. Based on the cointegration test results, it was found that natural gas consumption and population have a long-run relationship with CO2 emissions. Consistent with other studies, we found a positive relationship between CO2 emissions and natural gas consumption, GDP, and population.

Keywords

• natural gas
• unconventional gas
• shale gas
• energy transition
• energy management model