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IGU reacts to the IEA’s World Energy Outlook

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LNG Industry,

The International Gas Union (IGU) has issued a statement welcoming the International Energy Agency’s (IEA) positive outlook for the gas sector outlined in its recently published ‘2016 World Energy Outlook’ (WEO - 2016).

The IGU urged policymakers to set clear strategies and policies that support the expanded role of natural gas in the energy mix as they look to achieve a sustainable energy future.

David Carroll, President of the IGU, said: "The latest WEO 2016 clearly outlines the strong case for natural gas. Any sustainable and affordable energy mix that addresses the continued growth in global energy needs and efforts to mitigate climate change has to include natural gas. Natural gas can improve air quality in our cities, enable renewable energies and a smooth transition to a lower carbon economy.”

According to the IEA’s New Policies scenario, global natural gas demand is set to grow by nearly half over the ‘Outlook’ period. While an anticipated growth rate of 1.5% is lower than observed over the past 25 years (2.5%), natural gas continues to be seen as the fastest growing fossil fuel and is expected to increase its share in global primary energy demand from 21% today to 24% in 2040.

The IGU said that it is fully supportive of a transition to a lower carbon economy consistent with the outcome of COP 21, and recognises the large part that renewable energy will play in that transition. The IGU also welcomed the IEA’s assessment that natural gas is “especially advantageous to the transition if it can help smooth the integration of renewables into power systems along the way.”

The IGU believes that natural gas is complementary to renewable energy and that it is the best fuel to partner with renewable energy sources in multiple ways. As such, it recommends that there is increased emphasis on innovation and new technologies that focus on the complementary nature of natural gas and renewable energies.

The IGU’s statement concluded: “In view of the complementary relationship between natural gas and renewable energies, the IGU calls on policy makers and governments that the natural gas industry and renewable energy sector be strongly encouraged to continue to build on their collaboration and work to maximise the value of this partnership.”

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