Natural gas is the only viable fuel that can link the carbon-based global energy supply used today to a renewable-based energy supply of the long-term future. Natural gas is the only relatively clean alternative to oil and coal, fully supported by commercially effective production and distribution technologies. There is little doubt that natural gas will be the fuel of the future.
An Independent View :
Unlike most of the world's publications on natural gas resources and production, this report is unbiased. The aim is to deliver the best possible interpretation of volumes, past, present and future, from the best publicly available data. Every country has been included and analysed. The report has not been influenced or limited in scope by commercial pressures or by political needs.
Reserves :
The World Gas Supply Report gives the latest estimates by country of some 275 Tcm of total global reserves, both proven and yet-to-find. It considers Russia's position as holder of the largest share and also the 'low risk' gas of the Middle East and other moderately remote areas. 'Higher risk' gas in technologically challenging (usually deep or deepwater) reservoirs, or in remote regions is also discussed.
Production :
Past natural gas production and future prospects are charted out for every country. Currently, this totals 2,600 Bcm and The World Gas Supply Report forecasts this to grow to 4,755 Bcm per year by 2025 - an average increase of 2.75% per annum.
Major Markets :
Indigenous supplies are already declining in the three gas importing areas - North America, Western Europe and North Asia. The World Gas Supply Report estimates that three quarters of new gas production will be traded across borders into these three regions. The international gas supply trade is set to double from around 24% in 2003 to perhaps 50% by 2025, a level at which oil trade is now. A surge in the build of pipelines across countries and borders is forecast.
Pipelines & LNG :
The World Gas Supply Report analyses the proportion of future gas likely to be used transported by both pipelines and LNG. Since 1980 LNG exports have increased by 6.5% per year from 38 Bcm to over 150 Bcm. LNG is now the world’s fastest growing fuel and growth is expected to average 10% per year so that by 2025 LNG will be conveying 1,240 Bcm of gas equivalent or 26% of total yearly production. Over $39 billion is estimated to be spent over the next five-year period on LNG plants, carriers and import terminals.
Expenditure Forecasts :
The World Gas Supply Report gives estimates of capital required for exploitation of reserves to 2025 forecast to reach $630bn. Of this some $520 bn will be spent on infrastructure whilst the reminder will be for exploration and production.
Strategies :
The World Gas Supply Report considers the strategic implications of the likely levels of future natural gas supplies for companies, governments and consumers.
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