Global natural gas production will grow by 2 percent per annum, reaching about 13 billion cubic metres per day by 2030, BP Energy Outlook 2030 said.
According to the report, most of the growth originates from non-OECD (Organisation for Economic Cooperation and Development) countries (2.2 percent per annum), accounting for 73 percent of world gas production growth.
BP expects OECD gas production growth at 1.5 percent per annum over the outlook period.
By 2030, according to BP's forecasts, non-OECD will account for 67 percent of total supply compared to 64 percent in 2011.
BP predicts non-OECD gas demand will grow by 2.8 percent per annum compared to one percent annual growth in OECD countries over the outlook period. Thus, non-OECD share of global gas consumption will increase from 52 percent in 2011 to 59 percent by 2030.
Non-OECD markets account for 76 percent of global gas demand growth to 2030. China alone accounts for 25 percent of the growth, and the Middle East for 23 percent, BP report said.
Overall world primary energy consumption is projected by BP to grow by 1.6 percent per annum from 2011 to 2030, adding 36 percent to global consumption by 2030.
Almost all (93 percent) of the energy consumption growth, according to BP estimates, will be in non-OECD countries. Non-OECD energy consumption in 2030 will be 61 percent above the 2011 level, with growth averaging 2.5 percent per annum, accounting for 65 percent of world consumption.
OECD energy consumption in 2030 will be just 6 percent higher than in 2011 (0.3 percent per annum).
Most Popular Stories
- Slow Week Ahead of December FOMC Meeting
- Hispanics Seek to Grow School Board Members
- GM Bailout Saved 1.2 Million U.S. Jobs, Report Says
- 'Knockout Game': Myth or Menace?
- Questions Remain in Jenni Rivera's Death
- U.S. Companies Eager for Iranian Business
- Bitcoin Used to Buy Tesla Car
- Banks Fret as Volcker Vote Approaches
- Paul Walker Fans Pay Respects
- Yellen Set to Become One of World's Most Powerful Women