NIGC National Iranian Gas : Oil, Gas Biggest Energy Resource by 2040: Adeli

Oil, Gas Biggest Energy Resource by 2040: Adeli

Secretary General of Gas Exporting Countries Forum (GECF) said fossil fuels will remain to be the biggest energy resources by 2040 in the world...

Secretary General of Gas Exporting Countries Forum (GECF) said fossil fuels will remain to be the biggest energy resources by 2040 in the world.

Mohammad Hossein Adeli said nearly 80% of energy demand in the world by 2040 will be supplied by fossil fuels and the share of natural gas will reach 26% of the global demand for energy from the current 21% in 2015, Iran's SHANA news agency reported.
Adeli also said new sectors including maritime transportation have signaled interest to consume gas as a cleaner energy carrier.
He further said global gas reserves are estimated to hit 492 trillion cubic meters (tcm) of which only 200 tcm is proven and the rest is based on speculations.
The GECF chief added that investments for developing gas reserves cover only less than 50% of global reserves while 21% of investments concern ongoing projects, 20% are allocated to new projects and 9% are unconventional gas projects.