Exxon Mobil Corp., in its long-term energy outlook for 2030, forecasts that natural gas will surpass coal as an energy source, with "newly unlocked supplies of shale gas and other unconventional energy sources" proving "vital" in meeting a projected 35 percent rise in energy demand, company CEO Rex Tillerson said.
The Irving-based oil giant projects that there will be an expansion of natural gas supply, particularly in the U.S.., where gas produced from shales, tight sandstones and coalbed methane is "expected to meet more than 50 percent of gas demand by 2030."
The company released today its new edition of "Outlook for Energy: A View to 2030," in which it forecasts that world energy demand will rise 35 percent by 2030, compared to 2005 levels. It sees natural gas becoming the second-largest global energy source, behind oil, as electricity demand skyrockets more than 80 percent and natural gas increasingly goes to generate electricity because it is less polluting than coal.
"Demand for natural gas for power generation is expected to rise by about 85 percent from 2005 to 2030, when natural gas will provide more than a quarter of the world's electricity needs," the company forecast.
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