According to the IEA, by 2040 global demand for natural gas will increase by about 1.6% each year. That year it should be 45% higher than it is today. The big investment in this area will make a major contribution to China, which is currently the world's largest importer of crude oil and coal. The IEA predicts a sharp increase in demand for gas in that country, and China's net imports will reach the European Union level by 2040. Although China is now the world's third largest natural gas consumer in the world after the United States and Russia, about 40% of its consumption is to be obtained from insufficient domestic production.
Gas demand will also apply to other Asian countries. This rising demand for raw materials should account for about half of this raw material in the next 20 years, and by 2040 their total LNG imports should reach 60%. It is about twice as high as the current level.
"Although it is premature to compare the global gas market with oil products, since 2010, liquefied natural gas sales have grown rapidly and have previously been isolated markets," the IEA report said.
Demand for electricity is also increasing, mainly due to the fact that this resource is being expanded in the industrialized countries. In general, electricity demand in the world will increase by 2.1% per year.
The energy agency said coal and renewable resources are gradually shifting the energy mix. According to the agency's estimate, the share of coal by 2040 should be reduced from about 40% to about 25%, while the share of renewables will increase from 25% to 40%.