LNG Market Booming, Says Total

Global liquefied natural gas (LNG) output is expected to reach 360 million tonnes and account for 13% of global gas supply by 2020, energy major Total SA says in a report, according to the Gulf Times.

In 2010, LNG amounted to 9% of global gas consumption with production of nearly 220m tonnes.

Over the next 10 years, natural gas will play an increasingly important role in meeting the world’s energy needs. LNG, whose many advantages include flexibility and ease of transport, will be instrumental in this “coming of age”, particularly in meeting Asian and European demand.

With demand rising at an average 3% a year for more than 30 years, natural gas has posted more dynamic gains than any other fossil fuel.

According to Total’s estimates, demand for gas will rise at an annual rate of 2.5% from 2010 to 2030, outstripping demand growth for crude oil (1.1%) and coal (0.2%). At that pace, natural gas should rise to second place among fossil energies by 2030, capturing a greater share (24%) of the energy mix than coal for the first time.