Natural gas will remain a “key transition fuel” until the mid 2040s to ensure electricity systems maintain their reliability for dispatchable generation, according to TotalEnergies SE.

The French integrated major, which has a worldwide portfolio of oil, natural gas and alternative energy projects, recently issued its fifth annual outlook of the global markets. The forecast, based on worldwide demand and population growth, estimates how different parts of the world and the various sectors may advance toward net-zero carbon emissions.

Bottom line: it’s not going to be quick nor easy. 

“Analysis of the 2000-2021 period shows that the energy transition has started but is not progressing fast enough,” the TotalEnergies research team said. Over the first two decades of...