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Natural Gas set to become world’s second largest energy source by 2030

Natural Gas picture

Natural Gas 

Natural gas is expected to overtake coal as the world’s second largest energy source after oil by 2030, due to a drive to cut air pollution and the rise in liquefied natural gas (LNG) use, according to the International Energy Agency (IEA).

In its World Energy Outlook 2018, the IEA has predicted that global gas demand will increase by 1.6% each year to 2040  reflecting a 45% increase by that year. Furthermore, energy demand will grow by more than a quarter between 2017 and 2040 assuming more efficient use of energy – but would rise by twice that much without such improvements.

The estimates are based on the IEA’s “New Policies Scenario” that considers legislation and policies in order to reduce emissions and fight climate change.

The Paris based international organisation noted that China, already the world’s biggest oil and coal importer, would soon become the largest importer of gas and net imports would approach EU levels by 2040. Emerging economies in Asia would account for about half of total global gas demand growth, while the USA would account for 40% of total natural gas production growth to 2025.
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