IEA expects high gas demand long term perspective

Demand for gas will grow by more than 50 percent to 2035 and the share of gas in the global energy mix rises to 25 percent in that period, International Energy Agency says in its "Golden Rules for a Golden Age of Gas" report released on Tuesday.

According to the IEA's forecasts, production of unconventional gas, primarily shale gas, more than triples to 1.6 trillion cubic meter (tcm) in 2035.

"Natural gas is poised to enter a golden age, but will do so only if a significant proportion of the world's vast resources of unconventional gas - shale gas, tight gas and coalbed methane - can be developed profitably and in an environmentally acceptable manner," IEA's report says.

The largest producers of unconventional gas over the projection period, according to the IEA's expectetations are the United States, Russia and China. There are also large increases in Australia, India, Canada and Indonesia, IEA believes.

IEA predicts global investment in unconventional production constitutes 40 percent of the $6.9 trillion.

According to the IEA's expectations, the share of Russia and Middle East countries in international gas trade will decline from around 45 percent in 2010 to 35 percent in 2035,although their gas exports will increase by 20 percent over the same period.


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