Iran Energy News Oil, Gas, Petrochemical and Energy Field Specialized Channel
Related Articles
Strong demand from China. greater industrial demand and rising supplies from the US. will “transform global natural gas markets over the next five years.“ Jean-Baptiste Dubreuil. the IEA’s senior gas analyst. told Arab News.
He expected global gas demand to grow at an average rate of 1.6 percent a year. reaching just over 4.100 billion cubic meters (bcm) in 2023. up from 3.740 bcm in 2017.
Dubreuil said: “China will become the world’s largest gas importer within two to three years. US production and exports will rise strongly. while at the same time — across the world — industry was replacing power generation as the leading growth sector.“
He forecast Chinese gas demand to grow by 60 percent between 2017-2023. thanks to policies aimed at reducing local air pollution by switching from coal to gas.
China alone accounts for 37 percent of the growth in global demand in the next five years and becomes the largest natural gas importer by 2019. overtaking Japan. the IEA has estimated.
The IEA has forecast strong growth in gas use in other parts of Asia. including South and Southeast Asia. driven by strong economic growth and efforts to improve air quality.
