<
https://www.theguardian.com/australia-news/2022/jul/07/australian-fossil-fuel-megaprojects-at-risk-from-record-high-global-gas-prices>
"High global gas prices may threaten Australian fossil fuel megaprojects as
growth forecasts for the industry are reduced by as much as a third.
The International Energy Agency (IEA) significantly revised down its forecast
for global gas demand until 2024 by almost two-thirds on Tuesday after prices
rose to record levels thanks to Russia’s invasion of Ukraine.
“Global gas consumption is forecast to contract slightly in 2022, with limited
growth over the next three years, resulting in a total increase of about 140
bcm [billion cubic metres] between 2021 and 2025,” the report said. “That is
less than half the 370 bcm increase seen in the previous five years and well
short of the exceptional jump in demand of close to 175 bcm seen in 2021.”
Asia is expected to account for 60% of new consumption but the IEA warned that
even this growth was at risk as high prices pushed countries to seek
alternative fuels."
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
