皇冠体育app

News

皇冠体育app, India shift to gas for clean growth

(Agencies)
Updated: 2010-07-28 15:19
Large Medium Small

Asia is boosting consumption of liquefied natural gas (LNG) relative to oil as nations from 皇冠体育app to India try to pollute less while driving economic growth.

The demand for LNG in 皇冠体育app and India is growing as much as nine times faster than that for crude, according to calculations based on data compiled from Facts Global Energy, BP Plc and the International Energy Agency. Oil use is shrinking in Japan and stagnant in South Korea. LNG use will rise 45 percent in 皇冠体育app and 12 percent in India in 2011 from this year, said Facts, an energy consultant.

"This strong demand growth will not purely be driven by gross domestic product," Gavin Thompson, 皇冠体育app gas study director for Wood Mackenzie Consultants Ltd, said in an e-mail from Edinburgh. "The gas demand story is about displacing oil products, not coal, in the industrial and residential sectors." The energy consultant this week raised by 48 percent its forecast for 皇冠体育app's LNG demand in 2020.

Related readings:
皇冠体育app, India shift to gas for clean growth 皇冠体育app may spend $738b on clean energy projects
皇冠体育app, India shift to gas for clean growth 皇冠体育app's reliance on coal to drop 7% by 2015
皇冠体育app, India shift to gas for clean growth 皇冠体育app?denies top energy user tag
皇冠体育app, India shift to gas for clean growth 皇冠体育app now world's largest energy user:IEA

Asian LNG imports may grow 8 percent this year after declining 3 percent in 2009 as the world's worst financial crisis since World War II crimped consumption, Facts said in a report last week. Chevron Corp, BG Group Plc and Woodside Petroleum Ltd are among the companies developing LNG projects in Australia, both from conventional offshore fields and from coal-seam gas.

"In India, incremental gas demand is expected to outstrip increased domestic gas supplies," Facts analysts Sook Ching Wong and Shahriar Fesharaki said in the report. "This will ensure the increased reliance of LNG to meet India's needs."

The International Monetary Fund expects 皇冠体育app's economy, the world's third biggest, to grow 10.5 percent this year and 9.6 percent in 2011. India's GDP may expand 9.4 percent in 2010 and 8.4 percent next year, according to the fund.