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Gas threaten the throne of the oil in the world markets
24/12/2016 0:00
[rtl]With a glut of supply and lower prices
morning / agencies have
seen the beginning of the third millennium , a quantum leap in natural gas extraction and marketing industry, when the report of the International Energy Agency , issued in 2011 , pointed out that the world has begun to enter into what he called the report «golden gas era».
Predicted the International Energy Agency in an earlier report to replace natural gas , coal replaced by 2020 as the second largest source of primary energy in the world after oil, and this prediction took into account the increasing demand for natural gas from Asia , the major industrialized countries such as China, Japan, India and South Korea.
It accompanied the Golden Age theory of gas shale gas revolution in the United States in the first ten years of the atheist and the twentieth century.
Confusion still surrounds the geopolitical implications of this golden age, especially that these effects are related to the characteristics of the market Kalard and demand, cost and price, as we shall see in the later part of the article.
Because of rapid technological development in the field of discovery and extraction of shale natural gas will decrease the cost of production, which will help in the growth of this important sector. But shale gas availability exuberantly will be on conventional natural gas account, and this will push prices to decline.
However, in the short term, the negative impact will be limited in the medium term, Asia will continue its dependence on traditional Gulf sources.
What is the truth of natural gas for oil threat?
There is a question of interest to observers: Do you threaten the availability of gas, oil effective and safe source of energy?
Natural gas has the features to make it attractive in the market, of which it is environmentally clean, used in power plants.
But the common denominator between the oil and gas that they both suffer a glut in production, where oil is produced from two million to one million barrels per day above the need of the market, while liquefied natural gas produces 10 percent above the market need, and this is the reason for falling prices.
When natural gas prices were relatively high in the first years of the third millennium, it encouraged the excessive spending on additional gas production projects, which are now beginning to reach the market, including the BG project in Queensland , Western Australia , which cost $ 20 billion, which will become the property Royal Dutch Shell after its acquisition of
the BG.
According to the newspaper Alsnda Times of London, there are expectations that the climbing world production of liquefied natural gas by 43 percent between now and 2020.
Most of that production will come from projects approved for implementation in the United States and is expected that it will be able to export 62 million tons
annually.
In front of these dynamics, Russia does not stand by, Fgasberom is the largest provider of natural gas in Europe, which continues to escalate gas output to compensate for the decline in revenue due to the collapse of oil prices.
Most of this gas finds its way to Western Europe via pipelines is expected that there will be a price war between Gazprom and other companies that supply liquefied natural gas to Europe.
Also welcomes Europe began to import liquefied natural gas from the Middle East to reduce dependence on non - trusted source such as Russia.
The report, published last month in the British Economist magazine, to the growing demand for natural gas as an energy source because of the cleanliness and we will see more electricity production plants gradually shifting from coal and oil to gas for two reasons, namely the protection of the environment and lower cost of natural gas.
Currently oil is more than a commodity traded on the world market, where annually are exported $ 1.5 trillion dollars of oil in the world, where half of the 500 largest companies listed on international stock exchanges in the world as ranked by Forbes magazine , are oil companies.
Since the collapse of oil prices tumbled mid - 2014 also contributed to oil companies listed on global stock markets , the prices - producing countries such as Nigeria, Venezuela, suffered an almost complete breakdown in their budgets, also faced shale oil production companies a wave of bankruptcies and closures.
Attention focused over the past fifty years about the oil and ensuring secure energy sources, but the oil will be implemented sometime in the future, according to experts ' forecasts.
But oil source is important to keep the president to move the trucks and other means of transport and the plastic and Alpetrokemiaoah and others, but the environmental problems will force States to implement policies to reduce the use of oil and increase the use of gas.
Experts and observers believe that the oil is not giving up that easily.
The Economist 's report warns that the oil age will decline in the long term because of environmental pressures, but there are many of the questions, including Will we see batteries replace
fuel?
Can we dispense with cars that use fuel?
Are you moving investments from the oil sector to the alternatives? To answer we have to wait two decades.[/rtl]
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