BAKU, Azerbaijan, Sept.29
By Leman Zeynalova – Trend:
Natural gas demand is expected to continue growing in the medium- to long-term, in line with expanding economies and rising energy demand, Trend reports with reference to OPEC’s World Oil Outlook.
“This includes the increasing use of gas in power generation and industry (including non-energy use). In line with efforts to reduce carbon footprints and to tackle the issue of local air pollution, natural gas, as already noted, is also expected to substitute for coal in power generation and industry,” the cartel said.
The report shows that in total, gas demand is expected to increase by around 21.5 mboe/d between 2020 and 2045. “This brings total gas demand to 85.7 mboe/d in 2045, thus becoming the second largest fuel in the energy mix. Consequently, the share of natural gas in the energy mix increases from around 23 percent to almost 24.5 percent between 2020 and 2045.”
The table below shows the natural gas demand growth by region:
|
Region |
2020 |
2045 |
Growth in mboe/d (2020-2045) |
|
OECD Americas |
16.8 |
19.0 |
2.2 |
|
OECD Europe |
8.3 |
7.1 |
–1.2 |
|
OECD Asia Oceania |
3.5 |
3.6 |
0.0 |
|
OECD |
28.6 |
29.7 |
1.0 |
|
China |
5.0 |
10.1 |
5.1 |
|
India |
1.0 |
3.8 |
2.8 |
|
OPEC |
8.5 |
12.4 |
3.9 |
|
Other DCs |
10.0 |
18.8 |
8.8 |
|
Russia |
7.9 |
6.9 |
–1.0 |
|
Other Eurasia |
3.0 |
4.0 |
1.0 |
|
Non–OECD |
35.5 |
56.0 |
20.5 |
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Follow the author on Twitter: @Lyaman_Zeyn