Baku, Azerbaijan, May 13
By Elena Kosolapova - Trend:
The US Energy Information Agency's (EIA) International Energy Outlook 2016 (IEO2016) forecasts a significant growth of natural gas output in the long-term prospective.
The world's natural gas supplies increase by nearly 83 trillion cubic feet (69 percent) from 2012 to 2040, according to IEO2016.
Much of the increase in supply is projected to come from non-OECD countries, which in the Reference case account for 73 percent of the total increase in world natural gas production from 2012 to 2040. Non-OECD natural gas production grows by an average of 2.1 percent per year, from 75 trillion cubic feet in 2012 to 136 trillion cubic feet in 2040, while OECD production grows by 1.4 percent per year, from 44 trillion cubic feet to 66 trillion cubic feet, says the IEO2016.
The largest increases in natural gas production from 2012 to 2040 occur in non-OECD Asia (18.7 trillion cubic feet), the Middle East (16.6 trillion cubic feet), and the OECD Americas (15.5 trillion cubic feet). In China alone, production increases by 15 trillion cubic feet as the country expands development of its shale resources. The US and Russia increase natural gas production by 11.3 trillion cubic feet and by 10 trillion cubic feet, respectively, according to the EIA. In Russia, production growth is supported primarily by increasing development of resources in the country's Arctic and eastern regions.
The US production growth comes mainly from shale resources. Total natural gas production in China, the United States, and Russia accounts for nearly 44 percent of the overall increase in world natural gas production.
Edited by SI
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