Tuesday, November 10, 2015

Asia to Become World Leader in Gas Demand by 2030, Outstrip US

Asian countries’ consumption of natural gas will overtake that of the United States by 2030, making Asia the world leader in the sphere, the International Energy Agency (IEA) said in its latest annual World Energy Outlook report.

 Asia will catch up on the US in terms of natural gas demand by 2025, before then taking the lead, the report predicted.

Demand figures for 2025 given by the agency's experts stand at 798 billion cubic meters for the United States, and 795 billion for Asia, rising to 810 billion and 934 billion by 2030 respectively. Asia’s forecast demand in 2040 is projected to stand at 1,202 billion cubic meters, with China accounting for over half of this total.

Overall, the IEA report predicts an over 30-percent increase in global energy consumption in the period up to 2040, noting that this surge will almost entirely be driven by growing demand in developing countries.

The negative impact of low oil prices on energy efficiency is also raised in the report, as is the effect energy use has on climate change, energy efficiency policies and renewable energy and the possibility of fracking technologies outside the United States.


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