7 June 2011, The Times of India
According to the latest report by the International Energy Agency (IEA), gas demand will grow by 50% and take a 25% share in the global energy mix by 2035. "Natural gas is a lucky fuel as all its competitors are more problematic" said Birol, the IEA chide economist, who explained that coal produces twice as much CO2 emissions, renewables are still expensive and nuclear expansion faces more and more safety issues.
7 June 2011, Asia Economy, Korea
The Organization of Petroleum Exporting Countries, which pumps about 40 percent of the world’s crude, is meeting in Vienna as fighting in Libya shuts off the bulk of supplies from Africa’s third-largest producer and oil hovers at almost $100 a barrel. Crude prices at current levels could derail a global economic recovery, the International Energy Agency’s Chief Economist Fatih Birol told reporters today in Oslo.
7 June 2011, Yonhap, Korea
According to the latest forecast by the International Energy Agency (IEA), natural gas demand increases by 60% by 2035. The IEA today released a new report in which it presents a long-term outlook which shows global natural gas demand increase by 63% by 2035 compared with 2008. This “golden age of gas” scenario is said to be likely to arise after several countries move away from nuclear energy following the accident at Fukushima Daiichi and the surge in unconventional gas, such as shale gas, which supports growing gas demand.
7 June 2011, The Australian
The International Energy Agency forecasts a sharp increase in natural gas demand. According to IEA’s latest report, published today in London, global energy demand increases by 37% by 2035 compared with 2008 due to economic growth in emerging economies and natural gas demand grows with sharp increase of 63%. Natural gas occupies one quarter in the primary energy demand, the second largest share, next to oil and surpassing coal by 2030.
7 June 2011, Il Sole 24 Ore
Gas demand will grow with increase of power production due to decreasing shares of coal and nuclear energy, said the International Energy Agency (IEA) in its latest report entitled “Are We Entering A Golden Age Of Natural Gas?”. The report, published today in London, says that a combination of factors, such as the accident in Japan and the events in the Middle East, as well as the greenhouse emissions control efforts, made rising demand for natural gas more likely. To meet the demand gas production would to increase by a volume equivalent to three times Russia’s annual production, which in 2010 was 650 billion cubic meters.
7 June 2011, Bloomberg
The International Energy Agency (IEA) expects gas demand to increase by 50% by 2035. The main underlying factors for this scenario are growing demand in developing economies and nuclear energy reduction in Europe. IEA Executive Director Nobuo Tanaka mentioned that the gas market has rapidly developed during the last months. “The European gas market has also a very good potential”, says the IEA in its latest report, published today in London. European Union countries start renouncing to nuclear power plants, which leads to natural gas playing an even more important role.
7 June 2011, Nihon Keizai Shimbun, Japan
According to the International Energy Agency, natural gas could play a much larger role in the worlds future energy mix as some countries veer away from the perceived dangers of nuclear energy after Japans crisis, and see it as a cheaper alternative to renewable energy sources like wind and solar. “Power generation remains the dominant sector for gas demand and, in the GAS Scenario, gas replaces some coal in power generation in China, India and the United States,” the IEA said in its new report, published today in London. Conventional sources of natural gas will provide about 60 per cent of global production, while unconventional sources grow to about a 40 per cent share. Meanwhile, trade doubles, with the increase split between natural gas pipelines and liquefied natural gas.
7 June 2011, Financial Times
“We have seen a remarkable development in the gas markets the last few months. Gas has a strong potential to play a larger role, at the same time as the global gas market can become more diversified and consequently provide higher energy security” said IEA Executive Director Nobuo Tanaka when the report was presented in London yesterday. A range of factors are now present to grow the share of gas in the global energy mix, IEA pointed out: good supplies, new and growing markets, and large uncertainty with regard to the future production of nuclear power. It is the large merging economies, like China, India and the Middle East, and their choice of energy sources, that to a large degree will determine how much gas consumption will increase over the next 25 years, the report concludes. Even if gas is the ‘cleanest’ form of fossil fuels, it is still fossil fuels. Increased use of gas can displace low-carbon energy sources like renewable and nuclear energy. Increased use of gas is no universal solution against climate change.
7 June 2011,
Increasing gas supply and demand for the fuel could set off a "golden age of gas", the International Energy Agency (IEA) has said. In this latest report, the IEA presents a scenario in which demand for gas could outstrip coal by 2030, and get close to demand for oil by 2035. “Ample supplies, robust emerging markets and uncertainty about nuclear power all point to a prominent role for gas in [the] global energy mix”, the IEA said in the report. China is endeavouring to use cleaner forms of fuel in the coming years, and that is likely to increase the demand for gas substantially. "Worldwide, 16 of the 20 most polluted cities are in China, largely related from coal power plant production," said Fatih Birol, chief economist at the IEA. For this reason, China is pushing for gas to replace a lot of coal power production," he added.
7 June 2011, Aftenposten, Norway
Natural gas contracts will increasingly have a higher degree of flexibility, tied less to oil prices and more to spot prices, Fatih Birol, chief economist at the International Energy Agency, said Wednesday. "There will be more flexibility with more market elements," Birol said at a conference in Rome. This flexibility will be for both new and existing gas contracts that will be renegotiated, he said. "Major discussions" will take place between exporting and importing countries as the two sides hold different views, he said.