Gas Would Take Place of the Second Largest Energy Source By 2030

Gas Would Take Place of  the Second Largest Energy Source By 2030

The International Energy Agency said that due to the rising usage of liquefied natural gas and the withstand of reducing air pollution, natural gas is predicted to overtake coal as the second largest energy source after the oil by 2030.

The Paris-based IEA summit said in their 2018 World Energy Outlook that the demand for energy would increase more than a quarter between 2017 to 2040 presuming the more efficient use of energy.

It also said the demand of the global gas would increase up to 1.6 per cent in the year to 2040 and also would be 45 per cent higher than today.

The evaluation is based on “New Policies Scenario” of IEA that contains the regulations and policies for decreasing the emissions and combating the climate changing factors.

The report said, “Natural gas is the fastest growing fossil fuel in the New Policies Scenario, overtaking coal by 2030 to become the second-largest source of energy after oil.”

IEA said that the largest coal and oil importer, China would become the biggest natural gas importer soon and the approximate imports would reach the level of the European Union by 2040.

According to the estimations of Reuters based on the customs data of China’s General Administration, China has at present crossed the ratio of Japan as the top natural gas importer of the world.

Although China is the third largest user of natural gas behind Russia and the United States, it has to import around 40 per cent of its requirements as local production cannot satisfy the needs.

by Haimantee Ghosh on November 13, 2018

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