Tsuen Wan International: Natural gas usage to increase by over 50% by 2035 says IEA.

June 8, 2011 - PRLog -- Natural gas is set to become a leading source of energy as it has entered a golden age scenario the International Energy Agency informed Tsuen Wan International.

In a  recent report titled “Are We Entering a Golden Age of Gas?”, the agency said it believes natural gas is entering a "golden age" scenario, a period in which we will see its use account for over 25%r of global energy by 2035.

Global natural-gas consumption could increase by more than 50% by 2035 from last year to overtake coal as the second-most used fuel, the report said.

The IEA's forecast is based on a more ambitious natural gas-use policy in China, nuclear power's decreased global use after the recent earthquake and tsunami in Japan and higher production levels of unconventional natural gas.

The IEA cautioned that increased dependence on natural gas could negatively affect long-term CO2 emissions because where it replaces demand for other fossil fuels, it also replaces demand for nuclear.

"While natural gas is the 'cleanest' fossil fuel, it is still a fossil fuel. Its increased use could muscle out low-carbon fuels, such as renewables and nuclear - particularly in the wake of the incident at Fukushima and the likelihood of a reduced role for nuclear in some countries," Nobuo Tanaka, the IEA's executive director told Tsuen Wan International. "An expansion of gas use alone is no panacea for climate change."

The "golden age" scenario requires China's natural gas demand, which is currently equal to that of Germany, to increase to beyond the entire European Union's demand by 2035.

Natural gas futures have climbed 9.2% so far this year, Tsuen Wan International data shows.

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