The findings in World Energy Outlook 2016 have been welcomed by the industry in Australia, which is becoming a major player in the global LNG market.
“Far from falling, demand for natural gas is forecast to increase by 50 per cent by 2040, increasing its share of global energy demand from 21 per cent today to 24 per cent,” said Australian Petroleum Production and Exploration Association (APPEA) Chief Executive Dr Malcolm Roberts.
“The IEA also expects LNG exports will eventually overtake pipeline gas as the main form of long-distance trading.
“This is very good news for Australia. Our $200 billion investment in new LNG plants is set to supply a growing global market over the next 25 years.