Natural Gas to be the second biggest energy source by 2025, says Exxon

Natural gas is likely to become the second biggest source of energy by 2025 due to growth in demand, ExxonMobil said in its annual report.

Global demand for natural gas will expand by 60pc between now and 2040. Oil will remain the biggest source of energy by 2040.

The company expects that a higher proportion of natural gas will be extracted from shale rock.

Exxon expects India and smaller south eastern Asian countries, such as Vietnam, to drive industrial demand for energy.