Global shale gas production will double in the next two decades.
It will grow from 11% in 2014 to 24% by 2035, according to BP’s Energy Outlook.
It forecasts energy consumption to grow by 34% during the same period. Fossil fuels will meet around 80% of the demand, it added.
Although the growth of shale gas is mainly dominated by the US, the “shale revolution” is expected to be expanded in Asia Pacific and “particularly in China”, where production could reach 13 billion cubic feet per day (bcf/d) by 2035.
Global shale oil production will increase by 5.7mb/d to around 10mb/d, the report stated.
Natural gas is predicted to be the fastest growing fossil fuel at 1.8% per year while oil will grow “steadily” at 0.9% annually.
However, BP predicts coal will “slow sharply” by 2035, with its share in primary energy to be at an all-time low as it will be replaced by gas.
Renewables will grow “rapidly” at 6.6% a year, the report added.
Green power is expected to be the fastest growing fuel at a rate of 6.6% per year by 2035.
The outlook also stated despite the growth of carbon emissions being slower, it will increase by 20% in the same period.