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Page added on September 12, 2019

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Gas to Become Primary Energy Source in 2026

Consumption

DNV GL sees global gas demand overtaking demand for oil in 2026 to become the world’s primary energy source.

That’s according to the company’s latest Energy Transition Outlook report, which predicts that global oil demand will peak in the mid-2020s and gas demand will keep rising to 2033. Gas demand is then anticipated to plateau and remain dominant until the end of the forecast period in 2050, when it is expected to account for over 29 percent of the world’s energy supply.

Oil and gas will still meet 46 percent of world energy demand in 2050, according to DNV GL’s latest Energy Transition Outlook report.

Unconventional onshore gas will increase from 2019 through to the end of the forecast period, growing by 68 percent from 2017 production levels, the report highlights. Conventional onshore gas production is forecasted to be maintained at today’s output rates until the late 2030s. It is then forecasted to decline slowly to mid-century, ending at about 19 percent lower than 2017.

Offshore gas production is anticipated to rise until 2040, when it is expected to be 58 percent greater than in 2017. In 2050, it is still forecasted to be more than a third (39 percent) higher than in 2017.

DNV GL forecasts global upstream gas capital expenditure to reach $737 billion in 2025 before dropping to $587 billion in 2050.

Back in June, the International Energy Agency projected that global demand for natural gas is set to rise by more than 10 percent over the next five years, reaching 4.3 trillion cubic meters in 2024. Earlier this year, Equinor revealed that it expects global gas demand to grow by around 10 percent towards 2030. Back in February, the company said it sees “strong market opportunities for gas”.

The 2019 Energy Transition Outlook provides an independent forecast of developments in the world energy mix to 2050, according to DNV GL, which describes itself as a global quality assurance and risk management company.

RIGZONE



9 Comments on "Gas to Become Primary Energy Source in 2026"

  1. dave thompson on Thu, 12th Sep 2019 7:10 pm 

    I would like to predict the next 10 minuets. Lots of shitty comments to come.

  2. makati1 on Thu, 12th Sep 2019 8:10 pm 

    Dave, you are ‘right on’. Predictions are like assholes. Everyone has one. lol

  3. Davy on Fri, 13th Sep 2019 5:48 am 

    “USGC: Ethanol is fastest growing US agricultural export”
    https://tinyurl.com/y4tvby8h ethanol producers

    “An analysis by the U.S. Grains Council showed that non-beverage ethanol has been the fastest growing U.S. agricultural export over the past five years, an achievement supported by Council and ethanol industry programming to promote import-facilitating policy development around the world. In 2018, U.S. ethanol exports totaled more than 6.1 billion liters (1.62 billion gallons or 609 million bushels in corn equivalent), valued at $2.7 billion. Using trade data on 47 different agricultural and ag-related product groupings tracked by the USDA’s Foreign Agricultural Service via its Global Agricultural Trade System, analysis reveals the volume of ethanol exports grew by 18 percent per year over the past five years.”

  4. Davy on Fri, 13th Sep 2019 6:10 am 

    “Socialism Is Destroying America”
    https://tinyurl.com/y3bg7ems Future of Freedom Foundation,

    “Leave it to the progressives (i.e., liberals or leftists) to point out, indirectly, that conservatives and Republicans are as devoted to socialism as leftists are. The point is well made in an article by Tim Butterworth, a former Democratic Party legislator in New Hampshire. The title of the article pretty much says it all: “’Socialism’ Made America Great.” That’s, of course, the standard mindset of liberals/progressives/ Democrats. But it’s also the standard mindset of conservatives/Republicans! The difference is that the left admits it, proudly, while the right denies it.”

    “Look around us. Every single socialist program is in crisis or chaos. Social Security. Health care. Immigration controls. The Federal Reserve. Education. The military-industrial complex. Federal spending and debt. All of them a complete mess. That’s what socialism always produces — crises, chaos, and messes.”

  5. ANAL REAPER on Fri, 13th Sep 2019 6:21 am 

    Here is a shitty comment!

    FUCKING NIGGERS!
    FUCKING NIGGERS!
    FUCKING NIGGERS!
    FUCKING NIGGERS!
    FUCKING NIGGERS!
    FUCKING NIGGERS!
    FUCKING NIGGERS!

    MAGA 2020

  6. joe on Fri, 13th Sep 2019 9:47 am 

    Stupid moron

  7. dave thompson on Fri, 13th Sep 2019 1:06 pm 

    HMMMM not as many shitty comments as I predicted.

  8. Sissyfuss on Fri, 13th Sep 2019 1:55 pm 

    I believe that any predictions, economic or otherwise, that extend outward past 2025 are spurious at best, psychotic at worse. Even though we aspire to remove ourselves from the indifference of Nature we have never been more symbiotic or joined in spirit. As the repressive weight of our predicament is felt, an even heavier weight will experienced when we realize we have become prey though we always were.

  9. majece majece on Sat, 14th Sep 2019 2:00 am 

    I recommend you to check https://paper-writer.org/blog/how-to-write-methods-section-of-research-paper out if you want to get info about methods section of a research paper. It’s really important to know these days

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