Gas production statistics, provided by ExxonMobil’s Energy Factor, offer a stunning look into the future of energy consumption worldwide.
To understand why natural gas is poised to become an even more predominant fuel in the 21st century, one has to also understand how the world is getting richer. This is especially true across large parts of Asia and China where, in a relatively short time, millions of people joined the ranks of the middle class. This economic expansion is igniting unprecedented consumption of energy as people tap some of their disposable income to purchase automobiles, refrigerators, or televisions, all of which require energy to operate. More and more of that energy is slated to come from natural gas.
Between 2014 and 2040 global GDP will more than double.
By 2040 natural gas and oil will meet about 60 percent of global energy demand.
The growing role for natural gas will help cut CO2 intensity in both industrialized economies and emerging markets.
Supplying the markets will be a challenge. However, most of it will be produced locally, in places like the Marcellus and Barnett Shales in the U.S.
By 2040 about 30 percent of the world’s electricity will be generated by natural gas.
Read more here.
The Outlook for Energy: What will the world look like in 2040 and beyond?
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