Breitling Oil and Gas Morning Podcast #88 June 11th, 2012
Natural-gas consumption may rise 17 percent by 2017 from last year as demand surges in Asia and the U.S., according to the IEA. China’s use of the fuel will double while Europe’s will remain below the level of 2010. Other Emerging nations will account for 69 percent of the gain.
Asia will be by far the fastest growing region, driven primarily by China, which will emerge as the third-largest gas user by 2013. U.S. demand will expand 13 percent by 2017.
The rate of growth in China’s gas use depends on the nation’s construction of infrastructure to handle imports and domestic distribution and storage, the report shows. Wholesale and retail gas prices also need to be high enough to attract more expensive supplies such as liquefied natural gas which the US hopes to be exporting by 2015.