Abstract
Natural gas is considered by energy experts to be the most promising fossil fuel for the 21st century, and as a matter of fact, the International Energy Agency (IEA) introduced for the first time in the 2011 World Energy Outlook a high gas use scenario called the “Golden Age of Gas”. Natural gas is an easy to burn and clean fuel; its proven reserves are large and furthermore, enormous possibilities are offered by unconventional resources. There are anyway some geopolitical concerns in the global gas market, since the most important reserves are concentrated in a limited number of countries; the environmental impacts in the extraction of shale gas should also be taken into account. The paper presents an updated and thorough overview of recent advances and trends in the global gas market, highlighting the role of Europe in the World scenario. Statistical data from the main international reports are presented; economical, geopolitical and especially environmental aspects are presented and discussed.
Highlights
According to the International Energy Agency (IEA), total primary energy demand will grow by 31% by 2040 with respect to the 2013 data, reaching about 17 billion of toe [1].IEA projections show that fossil fuels will satisfy 75% of global primary energy demand in 2035, while renewables and nuclear power will account for the remaining 25%
Renewable energy sources will grow at a faster rate than fossil fuels, it is clear that fossil fuels will have a fundamental role in all medium-term scenarios
As a matter of fact, natural gas is used for power generation, industry and domestic heating and its use is increasing in most countries since it provides various energy and environmental benefits compared to other fossil fuels [3]
Summary
According to the International Energy Agency (IEA), total primary energy demand will grow by 31% by 2040 with respect to the 2013 data, reaching about 17 billion of toe [1]. IEA projections show that fossil fuels will satisfy 75% of global primary energy demand in 2035 (oil 27%, coal 24% and natural gas 24%), while renewables and nuclear power will account for the remaining 25%. The rise of unconventional gas is going to influence in the following years the natural gas world market and to reduce the importance of the biggest producers such as Russia and Middle East and North Africa (MENA) countries. The aspect that is the main cause for concern is the consequences of hydraulic fracturing Within this contest, the present paper aims to provide an overview of recent advances and trends in the global gas market, under an institutional, economical, geopolitical and environmental point of view. All the steps of the natural gas production chain were taken into account (extraction, transportation, storage), for both conventional and unconventional gas; a particular emphasis was put on environmental impacts and risks
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