Reuters reports that natural gas is set to become the global fossil fuel of choice to complement renewable energy for the foreseeable future. Renewables include wind, solar, geothermal and biofuels.

Natural gas accounts for 22% of the world energy mix and demand is growing, particularly in the electricity sector in OECD countries.

As a base-load source for the generation of electricity natural gas is increasingly more attractive than coal since it emits lower carbon dioxide into the atmosphere; and since the Fukushima disaster in March interest in nuclear fission is on hold as governments review their nuclear policies.  Recently both Switzerland and Germany announced they were going to shut down their nuclear facilities over the next decade and Italy voted not to remove its moratorium on nuclear.

New technologies in extracting gas have sharply raised global reserve forecasts.  In June the International Energy Agency (IEA) said  that increasing natural gas supplies from unconventional sources could encourage demand to rise to levels exceeding coal by 2030 and close to oil by 2035. (The Golden Age of Natural Gas – IEA Report)

You can download the IEA report here.

Most analysts expect European nations to substitute gas for coal as they strive to achieve their CO2 reduction goals.   “We are positioning for an anti-coal, pro-gas scenario in Europe for 2020 and beyond,” one bank trader told Reuters.

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1 Comment on Natural Gas, Renwables to be Future Global Energy Sources of Choice

  1. Lorena says:

    Super informative writing; keep it up.