Nat Gas News – November 13, 2018
Nat Gas News – November 13, 2018
Gas to Overtake Coal as World’s Second Largest Energy Source by 2030, Says IEA
CNBC reported: 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, the International Energy Agency (IEA) said on Tuesday. The Paris-based IEA said in its World Energy Outlook 2018 that energy demand would 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. Global gas demand would increase by 1.6 percent a year to 2040 and would be 45 percent higher by then than today, it said. The estimates are based on the IEA’s “New Policies Scenario” that takes into account legislation and policies to reduce emissions and fight climate change. They also assume more energy efficiencies in fuel use, buildings and other factors. For more on this story visit cnbc.com or click https://cnb.cx/2Q1bLbK
China Is Expected to Become World’s Biggest Natural Gas Buyer by 2040
Bloomberg reported: China, the driver of global demand, is forecast to become the world’s largest gas-buying country with net imports approaching the level of the European Union by 2040, according to the International Energy Agency’s the World Energy Outlook. China already overtook South Korea as secondlargest LNG importer last year and is on track to surpass Japan. By 2040, it will be buying a total of 369 billion cubic meters of gas, while volumes into the EU, the biggest buyer, will be just 4 billion cubic meters higher. The gap was as big as 243 billion last year. China’s emergence as a super power in the energy markets will benefit exporters of liquefied natural gas as well as Russian pipeline gas supplier Gazprom PJSC that’ll next year complete its first link to supply the fuel to China known as Power of Siberia. For more on this story visit bloomberg.com or click https://bloom.bg/2B431sI
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