Global gas demand expected to ascend by 1.6% annually

14/07/2017 12:08 LNG


As reported by the International Energy Agency (IEA), global gas is predicted to rise 1.6% every year, for the next five years, with consumption rising to almost 4,000 billion cubic meters (bcm) by 2022.

China will make up 40% of the global surge, with renewables and coal expanding their share as power generators, and US will account for another 40% of the extra gas production by 2022 as a result of the growth of domestic shale.

The organization affirms the continuous surge of the consumption of gas will be steered by US supplies encouraging growing demand in developing countries, as well as the industry exceeding the power sector for the first time as leading cause of demand growth.

Higher use in the industrial sector will lead to the flourishing of the US domestic gas demand, with more than 50% of the production used for the export of liquefied natural gas (LNG).

Coal mining companies risk $16 billion due to climate change

24/07/2017 14:21:00

A new study from the Carbon Disclosure Project (CDP) concluded that major coal mining companies find themselves at risk of losing $16 billion (£12.3bn) due to climate change.


First stage of British energy storage investment initiated

24/07/2017 11:04:00

The first stage of the 246-million-pound investment into energy storage will be launched today by British MP Greg Clark.


Daily (24.07.2017): Oil prices fell by 2.5% on Friday on a rise in the OPEC’s oil production

24/07/2017 10:18:00

Oil prices were bearish on Friday after a consultancy report forecast a rise in OPEC production for July. Meanwhile, traders are looking ahead to Monday's meeting of several ministers from OPEC and non-OPEC members in Russia. Brent crude fell by 2.52% to $48.06 a barrel, while WTI price declined by 2.45% to close at $46.92 a barrel.