2018-07-03 | Editor : et_editor 640 pageviews
France's Total S.A. Expects Natural Gas Demand to Outgrow Oil Demand in the Coming 20 Years
Natural gas is usually considered cleaner than coal because natural gas emits less carbon than coal or gasoline does. In the long term, natural gas' growth potential is anticipated to perform better than that of oil.
Total S.A.'s CEO Patrick Pouyanne said, in the coming 20 years, the demand of natural gas will move up at a speed of about 2 percent each year while that of oil will register 1~1.5% per year, according to Reuters.
The U.S. Energy Information Administration (EIA)'s prediction is more conservative. EIA predicts that demand of natural gas will increase 1.5% per year, apparently better than 0.7% growth per year of oil, until the year of 2050.
After Total S.A. completed its acquisition of Engie S.A.'s liquefied natural gas (LNG) business, global market share of Total S.A. will reach 10%, only second to Royal Dutch Shell. Total S.A. will be the second largest LNG supplier.
Shell projected at the end of February 2018 that global natural gas demand will escalate at a pace of average 2 percent per year, until 2035. Natural gas will be the energy source whose demand will increase the fastest mainly because China, South Korea, and India will abandon coal and use natural gas.