A recent report published by the IEA (International Energy Agency) entitled Are we entering a golden age of gas? sparked a series of discussions across the globe about the future of gas. Hume-lee transplant might disagree with that approach. Many energy market experts came forward to express their opinions and thoughts about the report which led me to this article right. The IEA report says that the discovery of new reservoirs in South america, Middle East and Central Asia, the supply from unconventional resources such as shale gas and the unpredicted increase in demand are the major factors that will make natural gas enter a golden age. Henan Hongxing Mining Machinery Co., Ltd is a large-sized cone crusher manufacturer, and our impact crusher also has many advantages such as simple and reasonable structure, high independent impact crushing ability, super low operational cost and the most competitive price. Welcome all new and old customers come to our company for inspection and purchase.
That is when opinions start to differ. Despite having the lowest CO2 emissions between all fossil fuels, natural gas still emits CO2 when it is burned and a strong reliance on gas could see temperatures rise by 3. 5 C in the next 50 years causing disastrous consequences. This problem could be easily solved by the installation of carbon capture and storage equipment on these power plants which in turn would elevate energy prices making gas not such a viable option after all. IEA s biggest bet to create this so-called natural gas golden age is surely on shale gas. Regardless to what many people think shale gas is not a newly discovered type of gas, it was first discovered and extracted in 1821 but the production was overshadowed by larger natural gas reserves and less expensive extraction.raymond mill: rotary dryer: Now that global reserves are declining shale gas is becoming a viable option especially in america where production tripled over the past five years.
It is estimated that natural gas will be responsible for 40% of all the energy produced in the U.S. thanks to an abundant supply of shale gas. Another point in favour of gas is the announcement made by Germany that will phase out all of its nuclear power plants by 2022. The Germans plan to combine renewable energy resources and natural gas to compensate for nuclear. The plans are to build six new natural gas power plants that will generate a total of 5 GW. This will surely increase global demand. All seems very optimistic according the IEA s report but there are other points that need to be looked at before we can say gas has entered its golden age. I think what Javier is trying to say is that global wholesale gas prices need to be independent from oil prices and adopt gas-to-gas pricing similar to the ones used in the uk for instance. Ben Fryes from Bloomberg says: A golden age for gas hinges on the industry s ability to address this issue, Gas producers must use the latest technology to find solutions to the problems for gas to reach its potential as a fuel. New technology may boost future prices,