Doha — Demand for natural gas will continue to rise over the next two decades, stimulated by lower prices resulting from an expected surge in supplies of shale gas and other unconventional resources, according to the Gas Exporting Countries Forum. Natural gas consumption will rise 53% by 2040, with demand catching up with supply in the next two or three years, the Doha-based group said on Thursday in its "Global Gas Outlook 2017" report. Growing extraction of shale, tight gas and coal-bed methane in the US and China would "dramatically increase natural gas demand over the outlook period," it said. "This is mainly due to lower prices resulting from higher natural gas supplies." Gas markets have been transformed by the rise of US shale and Australian exports. These changes are expected to continue as unconventional resources almost double from 16% of gas supply today to more than 30% in 2040, according to the report. More supply has depressed prices while also spurring demand, a dynam...
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