A Global Perspective on the Future of Natural Gas: Resources, Trade, and Climate Constraints

Franziska Holz, Philipp Richter () and Rudolf Egging-Bratseth

Review of Environmental Economics and Policy, 2015, vol. 9, issue 1, 85-106

Abstract: Natural gas plays an important role in the global energy system as an input to power generation, heating, and industry. This article identifies key drivers and uncertainties for natural gas markets in the coming decades. These include the availability of natural gas from conventional and unconventional sources, the role of international trade, and the impact of climate policies. We build on model-based research as well as an up-to-date survey of natural gas resource availability. We find that natural gas is an abundant fossil fuel and that the Asia-Pacific region will be most important in future global natural gas markets, especially under stringent international climate change mitigation. This means that an increasingly large share of future natural gas trade flows and infrastructure expansions will be directed to the Asia-Pacific region and that the role of liquefied natural gas will continue to increase globally. (JEL: C61, L71, Q33, Q37, Q54)

Date: 2015
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