Vast newly discovered natural gas resources and the expectation
that demand for the fuel will rise substantially in fast-growing
economies are ushering in a "Golden Age of Gas," according to
the Paris-based International Energy Agency. Ratcheting up its
projections about natural gas consumption, an IEA report
yesterday said gas's share of the global energy mix will surpass
coal's in the next two decades and by 2035, gas demand will
increase by more than 50 percent. The IEA forecast goes as far
as some of the most optimistic gas industry projections. It also
bolsters the assumption that China, India and the Middle East
will lean more heavily on gas as a source of power generation.
To meet the demand by 2035, IEA found that gas production will
have to be about three times the volume of gas produced in
Russia today. The confluence of widely dispersed and abundant
shale gas reserves, competitive prices and emerging demand
drives IEA's conclusions. But the top global adviser on energy
issues reiterated concern amo