Cheap Gas To Fuel New Global Demand Boom

According to a new report from the International Energy Agency. Gas accounted for 45 percent of the increase in total primary energy demand last year.

China is ground zero for the future of gas, accounting for 40 percent of global demand growth over the next half-decade. The main impetus for soaring gas consumption is to clean up horrific air pollution.

In the U.S., cheap gas has stoked demand, paving the way for billions of dollars’ worth of investment in petrochemical complexes and new gas-fired power plants. Cheap shale gas is killing coal, and new plants lock in future demand for gas. The same is true for nuclear power – as nuclear plants shut down, gas stands to benefit.

 

 

 

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Source: Oilprice.com

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