IEA report predicts gas demand to increase

A study by the International Energy Agency (IEA) has found global demand for natural gas could increase up to 45 per cent by 2040.

The IEA’s 2018 World Energy Outlook report hypothesised that gas could be provide 25 per cent of the world’s energy demand in 20 years’ time.

The report also stated gas would become the second biggest source of global energy after oil.

Australian Petroleum Production and Exploration Association CEO Dr Malcolm Roberts welcomed the report, saying the outlook boded well for Australia’s energy future.

“This outlook is very positive news for Australia,” he said.

“Australians will see a steady stream of high paying jobs, export dollars and revenue for governments for decades to come.

“Most of the growing demand for natural gas will come from China, India and other countries in Asia which are turning more and more to natural gas to help improve urban air quality.

“Australia’s proximity and reputation for reliable supply means we are well‑placed to capitalise on this growing opportunity.  It is vital that we maintain this reputation.”

Australia is already one of the world’s biggest LNG exporters, with the country continuing to hit new highs in 2018.

For more information, visit the International Energy Agency website.

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