Natural Gas expansion will grow more than alternative fossil fuels in the next 30 year.

Natural Gas become preferred fuel of choice for many economies

The US Energy Information Administration released a report in 2016 outlining the interest in Natural Gas exploration and development around the world. There are several key reasons for this growth which include the reduction of GHG emissions by the oil and gas industry as they move to cleaner burning fuels other than coal and oil. Of course the largest factor is the growth of developing countries economies during this period and their demand for electricity and fuel.

Here is the overview from that report…,

Overview

Consumption of natural gas worldwide is projected to increase from 120 trillion cubic feet (Tcf) in 2012 to 203 Tcf in 2040 in the International Energy Outlook 2016 (IEO2016 Reference case). By energy source, natural gas accounts for the largest increase in world primary energy consumption. Abundant natural gas resources and robust production contribute to the strong competitive position of natural gas among other resources. Natural gas remains a key fuel in the electric power sector and in the industrial sector. In the power sector, natural gas is an attractive choice for new generating plants because of its fuel efficiency. Natural gas also burns cleaner than coal or petroleum products, and as more governments begin implementing national or regional plans to reduce carbon dioxide (CO2) emissions, they may encourage the use of natural gas to displace more carbon-intensive coal and liquid fuels.

World consumption of natural gas for industrial uses increases by an average of 1.7% per year, and natural gas consumption in the electric power sector increases by 2.2% per year, from 2012 to 2040 in the (IEO2016 Reference case). The industrial and electric power sectors together account for 73% of the total increase in world natural gas consumption, and they account for about 74% of total natural gas consumption through 2040.

Consumption of natural gas increases in every IEO region, with demand in nations outside the Organization for Economic Cooperation and Development (non-OECD) increasing more than twice as fast as in the OECD. The strongest growth in natural gas consumption is projected for the countries of non-OECD Asia, where economic growth leads to increased demand. Natural gas consumption in the non-OECD region grows by an average of 2.5% per year from 2012 to 2040, compared with 1.1% per year in the OECD countries. As a result, non-OECD countries account for 76% of the total world increment in natural gas consumption, and their share of world natural gas use grows from 52% in 2012 to 62% in 2040.

To meet the rising natural gas demand projected in the IEO2016 Reference case, the world’s natural gas producers increase supplies by nearly 69% from 2012 to 2040. The largest increases in natural gas production from 2012 to 2040 occur in non-OECD Asia (18.7 Tcf), the Middle East (16.6 Tcf), and the OECD Americas (15.5 Tcf). In China alone, production increases by 15.0 Tcf as the country expands development of its shale resources. The United States and Russia increase natural gas production by 11.3 Tcf and by 10.0 Tcf, respectively. In Russia, production growth is supported primarily by increasing development of resources in the country’s Arctic and eastern regions. U.S. production growth comes mainly from shale resources. Total natural gas production in China, the United States, and Russia accounts for nearly 44% of the overall increase in world natural gas production.

Of particular interest for Titan Electricity is the demand placed on sour gas reservoirs as they represent 40% of of new field development. As Sour gas and acid gas fields are high in CO2 and H2S the opportunity to capture and reduce CO2 emissions from these sources is greater.