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World Energy Outlook 2014

“Demand for natural gas grows by more than half, the fastest rate among the fossil fuels, and increasingly flexible global trade in liquefied natural gas (LNG) offers some protection against the risk of supply disruptions. The main regions that push global gas demand higher are China and the Middle East, but gas also becomes the leading fuel in the OECD energy mix by around 2030, helped by new regulations in the United States limiting power sector emissions. In contrast to oil, gas production increases almost everywhere (Europe is the main exception) and unconventional gas accounts for almost 60% of global supply growth. The key uncertainty – outside North America – is whether gas can be made available at prices that are attractive to consumers while still offering incentives for the necessary large capital-intensive investments in gas supply; this is an issue of domestic regulation in many of the emerging non-OECD markets, notably in India and across the Middle East, as well as a concern in international trade. Import needs are set to rise across much of Asia as well as in Europe, but concerns about the security of future gas supply are allayed in part by a growing cast of international gas suppliers, a near-tripling of global liquefaction sites and a rising share of LNG that can be re-directed in response to the short-term needs of increasingly interconnected regional markets.” (From the summary.)

International Energy Agency
World Energy Outlook 2014
Fulltext non-free.
IEA, Nov. 12, 2014

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