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PARIS - International Energy Agency (International Energy Agency / IEA) said the increase in supply and demand of natural gas could make the commodity entering a golden era.
IEA statement referring to a recent report which showed that gas demand could exceed coal oil in 2023 and beyond in 2035. "The growth of the natural gas sector will be led by the United States (U.S.) and China," the IEA said in its report yesterday.
The IEA added that the increased supply and a stronger market in developing countries as well as uncertainty regarding the development of nuclear energy, have shown how the role of natural gas in the global market. According to the IEA, the global use of natural gas will rise more than 50% in 2035 compared to last year.
Meanwhile, coal fuel would be the second most frequently used in the same period. In terms of environmental friendliness, write the IEA, jump in the use of natural gas will improve air quality in many cities in the world. Meanwhile, cut coal use and lower energy costs will push the climate change targets achieved.
"We have seen tremendous growth in natural gas markets in recent months," said IEA Executive Director Nobuo Tanaka.Developing new assumptions about the increased use of natural gas triggered by soaring fuel demand in China, as well as efforts to slow the growth of nuclear power in several countries of Japan after the earthquake and tsunami that resulted in levels equal to Chernobyl radiation.
The disaster also led the German government last week said it would close its nuclear power plants by 2022 to come. Germany feared a similar disaster occurred in their countries so the impact on the slump in the economy and endanger the safety of residents.
Based on the IEA notes, increased production of unconventional gas such as solid bitumen, will be driven by lower gas prices, especially for transportation services. The IEA added that the use of unconventional gas will contribute 40% of the total consumption of some 1.8 trillion cubic meters. "There is strong potential for gas take a bigger role," said Tanaka.
Currently, natural gas demand from China reached 100 billion cubic meters per year. The amount is roughly equal to consumption might exceed 27 German and other European Union countries at the upcoming 2035. "China has 16 of the 20 cities most polluted air in the world," said Fatih Birol, chief economist at the IEA.
"Half of the reduction of carbon dioxide emissions from natural gas and coal will come from China.Kota-town there would be more suitable for habitation," he added. Currently, natural gas prices ranging from $ 1 0.50 to 2, 50 per Million British Thermal Units (MBTU). The IEA estimates that natural gas prices rose in 2015 to USD9 per MBTU in the European market, not including tax. While in the U.S., gas prices expected to reach $ 5, 60 per MBTU and Japan amounted to USD11, 50 per MBTU.
OPEC Supply Increase
Elsewhere, at a meeting of the Organization of Petroleum Exporting Countries (OPEC) held in Vienna, Austria this week, the world's largest oil producer Saudi Arabia said it would increase oil production in June was 500,000 barrels per day.
This is triggered fears of rising crude oil prices near USD115 per barrel, which is expected to hamper the global economy. The plan was supported by other oil producers, including Kuwait and United Arab Emirates, support the increased output. "At least we will close the gap between production and the official quota.
Are we going to add more or not, it is still under discussion, "said the OPEC delegation. Delegates agreed to do something more than just closing the gap between supply and OPEC production targets that have proved difficult.
When this happens the gap in supply of crude oil on world markets about 1.4 million barrels per day. "I expect OPEC output increase," said Kuwaiti Oil Minister Mohammad al-Busairi. BBC / RTR / rini Harumi w
source: seputar-indonesia.com
IEA statement referring to a recent report which showed that gas demand could exceed coal oil in 2023 and beyond in 2035. "The growth of the natural gas sector will be led by the United States (U.S.) and China," the IEA said in its report yesterday.
The IEA added that the increased supply and a stronger market in developing countries as well as uncertainty regarding the development of nuclear energy, have shown how the role of natural gas in the global market. According to the IEA, the global use of natural gas will rise more than 50% in 2035 compared to last year.
Meanwhile, coal fuel would be the second most frequently used in the same period. In terms of environmental friendliness, write the IEA, jump in the use of natural gas will improve air quality in many cities in the world. Meanwhile, cut coal use and lower energy costs will push the climate change targets achieved.
"We have seen tremendous growth in natural gas markets in recent months," said IEA Executive Director Nobuo Tanaka.Developing new assumptions about the increased use of natural gas triggered by soaring fuel demand in China, as well as efforts to slow the growth of nuclear power in several countries of Japan after the earthquake and tsunami that resulted in levels equal to Chernobyl radiation.
The disaster also led the German government last week said it would close its nuclear power plants by 2022 to come. Germany feared a similar disaster occurred in their countries so the impact on the slump in the economy and endanger the safety of residents.
Based on the IEA notes, increased production of unconventional gas such as solid bitumen, will be driven by lower gas prices, especially for transportation services. The IEA added that the use of unconventional gas will contribute 40% of the total consumption of some 1.8 trillion cubic meters. "There is strong potential for gas take a bigger role," said Tanaka.
Currently, natural gas demand from China reached 100 billion cubic meters per year. The amount is roughly equal to consumption might exceed 27 German and other European Union countries at the upcoming 2035. "China has 16 of the 20 cities most polluted air in the world," said Fatih Birol, chief economist at the IEA.
"Half of the reduction of carbon dioxide emissions from natural gas and coal will come from China.Kota-town there would be more suitable for habitation," he added. Currently, natural gas prices ranging from $ 1 0.50 to 2, 50 per Million British Thermal Units (MBTU). The IEA estimates that natural gas prices rose in 2015 to USD9 per MBTU in the European market, not including tax. While in the U.S., gas prices expected to reach $ 5, 60 per MBTU and Japan amounted to USD11, 50 per MBTU.
OPEC Supply Increase
Elsewhere, at a meeting of the Organization of Petroleum Exporting Countries (OPEC) held in Vienna, Austria this week, the world's largest oil producer Saudi Arabia said it would increase oil production in June was 500,000 barrels per day.
This is triggered fears of rising crude oil prices near USD115 per barrel, which is expected to hamper the global economy. The plan was supported by other oil producers, including Kuwait and United Arab Emirates, support the increased output. "At least we will close the gap between production and the official quota.
Are we going to add more or not, it is still under discussion, "said the OPEC delegation. Delegates agreed to do something more than just closing the gap between supply and OPEC production targets that have proved difficult.
When this happens the gap in supply of crude oil on world markets about 1.4 million barrels per day. "I expect OPEC output increase," said Kuwaiti Oil Minister Mohammad al-Busairi. BBC / RTR / rini Harumi w
source: seputar-indonesia.com
Posted in: International Energy Agency
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