World Energy Outlook Report Highlights Role for Natural Gas
The International Energy Agency (IEA) is a non-governmental organisation which focuses on four key areas; energy security, economic development, environmental awareness and engagement worldwide.
Each year the IEA releases the World Energy Outlook report, which provides analysis and outlines detailed projections for the future of global energy. This year, the World Energy Outlook highlighted the increasing global demand for energy, as much as 1% a year to 2040. According to the outlook, as much as 35% of new demand will be met by natural gas.
The report highlighted the role natural gas can play as the cleanest traditional fuel source. The report states that switching from coal to gas can provide “quick wins for global emissions reductions” as, on average, it produces 33% fewer carbon emissions than coal per unit of heat.
Another key takeaway for natural gas is the fuel’s role in stabilising renewable energy sources into the future. The WEO states “…the main role of gas-fired power in the longer term is to provide flexibility, alongside hydropower, demand-side management and batteries.”
This is important in Australia but is also important for countries in Africa and Asia which are rapidly developing but need the energy to continue on their current trajectories.
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