Natural Gas: Why It's Important and What You Need to Know

As the world looks to diversify its energy mix one source, natural gas, is becoming increasingly important.

The International Energy Agency (IEA) says that natural gas is viewed "as a good source of electricity supply" for a range of reasons.

According to the IEA, natural gas is seen as "lower carbon" relative to other fossil fuels. In addition, it takes around two years to build gas plants, which is seen as being relatively quick, while its share of the global energy mix is increasing at two percent annually until 2020.

For its part, the U.S. Department of Energy has described natural gas as playing a "vital role" in the U.S. energy supply. The DOE says that natural gas consumption is set to hit 26.6 trillion cubic feet by 2035, up from 24.3 trillion cubic feet in 2011.

Downsizing

One way to transport natural gas is by cooling it and turning it into liquefied natural gas, or LNG.

The U.S. Energy Information Administration says that, in its liquid state, the volume of natural gas is "about 600 times smaller than its volume in its gaseous state."

The U.S. gets most of its LNG imports from Trinidad and Tobago, which accounted for 78 percent of imports in 2015.

View the rest of the story at CNBC.