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The Growing Importance of Natural Gas for Energy

by Will Brackett

As the world looks to diversify its energy mix one source, natural gas, is becoming increasingly important.

The International Energy Agency (IEA) says that natural gas is viewed “as a good source of electricity supply” for a range of reasons.

According to the IEA, natural gas is seen as “lower carbon” relative to other fossil fuels. In addition, it takes around two years to build gas plants, which is seen as being relatively quick, while its share of the global energy mix is increasing at two percent annually until 2020.

For its part, the U.S. Department of Energy has described natural gas as playing a “vital role” in the U.S. energy supply. The DOE says that natural gas consumption is set to hit 26.6 trillion cubic feet by 2035, up from 24.3 trillion cubic feet in 2011.

Read more of the story from CNBC here

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