Global gas output to double over 25 years – IEA exec
BAKU – Global gas production will rapidly rise in the coming decades, nearly doubling over the next 25 years, an International Energy Agency official has said.
Didier Houssin, director of energy markets at the IEA, told a Caspian oil and gas conference in Baku on Wednesday that global output will increase from the current 160 billion cubic meters to 310 billion cubic meters per year by 2035. It has been established that potential reserves are available to ramp up gas production.
Houssin said that according to estimates, the available gas reserves could meet global demand for 120 to 250 years. New investments to be made in the gas sector in the future will help to discover new gas fields, he said.
The IEA official added that as production surges in the coming years, global demand for gas will rise as well.
Experts estimate that Europe will be importing 70% of its energy by 2020 and 85% by 2030.
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