IEA sees "Golden age" ahead for natural gas

"Gas is set to play a key role in meeting the worlds energy needs."

The International Energy Agency (IEA) says that the world's natural gas market may about to have its own "golden age", because of expected rapid growth in demand from developing countries in Asia, the Middle East, Africa, and Latin America.

The IEA predicts, "Gas is set to play a key role in meeting the worlds energy needs, as demand rises by 44%, led by China and the Middle East. Unconventional gas accounts for 35% of the increase in global supply to 2035." Among fossil fuels, only natural gas will see an increase in production over the next 25 years.

The IEA said in the "World Energy Outlook 2010" that China could lead the market toward its golden age. Growth in demand in the Middle East, India, and Latin America will contribute. The IEA advises leading oil and gas importers, including the US, Europe, and Japan.

Investors in Israeli oil and gas exploration partnerships Ratio Oil Exploration (1992) LP (TASE:RATI.L), Delek Drilling LP (TASE: DEDR.L), and Avner Oil and Gas LP (TASE: AVNR.L) are waiting for the Leviathan exploratory well to be completed. The companies have said that preliminary results are due toward the end of the year, or in early 2011, but sources inform ''Globes'' that, given the rapid progress of the well, results could come much sooner, possibly by late November or in the first half of December.

Published by Globes [online], Israel business news - www.globes-online.com - on November 10, 2010

Copyright of Globes Publisher Itonut (1983) Ltd. 2010

 
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