Gas Production To Grow Faster Than Oil, Coal By 2022…….With Nigeria A Major Reason Why

Gas production will grow faster than oil and coal over the next five years, helped by low prices, ample supply, and its role in reducing air pollution and other emissions, according to a new analysis and forecasts to 2022 by the International Energy Agency (IEA). In its new five-year forecast to 2022, gas demand is expected to grow at 1.6 per cent yearly, a slight upward revision from last year’s forecast of 1.5 per cent.

IEA said that this means that yearly gas consumption would almost reach 4,000 billion cubic metres (bcm) by 2022, from around 3,630 bcm in 2016. It noted that Egypt, Algeria, and Nigeria are the main countries pushing consumption higher, even though lower hydrocarbon revenues and economic growth hold back demand in some resource-rich parts of the continent.