The global energy market will have doubled by 2035, helping to bring forth a “truly global gas market”, Paul McConnell, Wood Mackenzie research director for global trends, said in a short video posted on the consultancy group’s website.
“Gas demand growth is expected to be robust over the next 20 years as this cleaner burning fossil fuel takes market share in all sectors; power, industry and the residential sector as well,” McConnell said.
“To meet this growing demand a new wave of liquefied natural gas supply or LNG supply is coming online. Qatar is currently the world’s biggest LNG supplier but it will be overtaken by Australia by 2020 and Australia will then be overtaken by the US by around 2026,” he added.
Earlier this year, a new LNG Outlook report by Royal Dutch Shell plc forecasted that global demand for liquefied natural gas (LNG), which reached 265 million tons in 2016, is set to grow to 2030.(Source: RIGZONE)