The global role of natural gas into the twenty–first century

Abstract

Natural gas has, in recent decades, developed from being a predominantly local fuel into an internationally traded commodity. Natural gas will remain available well into the next century, with both production and consumption continuing to increase. New gas transportation networks will further facilitate worldwide trading in gas, and may serve to promote international co–operation. The relatively clean nature of gas, together with technological change in the gas industry, could result in the opening of new markets as concern over the environmental impact of other fossil fuels grows. Gas may also become increasingly independent of oil, its price being determined by its own supply and demand considerations.