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The future of natural gas: a tale of two worlds
Gielen, Dolf Colorado School of Mines. Payne Institute for Public Policy Bazilian, Morgan
Gielen, Dolf
Colorado School of Mines. Payne Institute for Public Policy
Bazilian, Morgan
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2018-10
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Abstract
While shale gas has "revolutionized" the energy sector in the United States, and is starting to have an impact on global LNG trade, the picture is very different in other parts of the world. A glance at the global market shows a strong and diverse sector. 2017 was a year of strong demand growth for natural gas, mainly driven by China. Globally, natural gas demand grew by 3%, the highest growth rate since 2010. For the coming five years a more modest expected average annual growth rate of 1.6% is projected. Globally nearly half of all gas is destined for final, direct consumption, the remainder is used for power generation and district heating. In final consumption terms, the shares of buildings and industry are roughly equal (around 40% each), with the remainder (20%) going for feedstock (e.g., ammonia, methanol, and LNG for crackers). Around 90% of gas is delivered by pipeline, 10% is liquefied and delivered as LNG.
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