Wednesday, 28 Apr 2010
Reuters reported that global demand for gas is set to rise constantly over the next 20 years amid plentiful reserves and its increasing use to produce power.
Mr Malcom Brinded senior executive at Royal Dutch Shell said that we see global gas demand growing by at least 2% a year over some decades, so by 2030 we look at gas demand hitting 4.5 trillion cubic meters of gas per year. That's 50% up from today's level.
Mr Brinded was equally bullish on prospects for liquefied natural gas which he saw growing a lot faster' than overall gas demand, driven by China's economic growth and higher demand in Europe and countries such as Malaysia, Thailand, Singapore, Pakistan, Kuwait, the United Arab Emirates and Bahrain.
He said that despite the difficult market we've had in the last year in the recession, we expect global LNG demand to double this decade,' said Brinded, who expects China's gas demand to 'double or treble by 2020 from around 100 billion cubic meters. This boom in LNG demand will need to be matched by a similarly rapid increase in supply, which is currently growing by at least 6% to 8% per year.
Mr Brinded said that he was confident this was possible. There is enough gas around, this is increasingly clear. Some USD 5 trillion would be needed over the next 20 years or USD 220 billion per year to extract this gas. These figures are staggering. The gas is there, it is going to take investments and it needs a lot of new technology. This is truly an energy revolution.
(Sourced from Reuters)
Review: http://www.steelguru.com/news/index/MTQzMTY1/Global_gas_demand_to_shoot_up_50pct_by_2030.html
Reuters reported that global demand for gas is set to rise constantly over the next 20 years amid plentiful reserves and its increasing use to produce power.
Mr Malcom Brinded senior executive at Royal Dutch Shell said that we see global gas demand growing by at least 2% a year over some decades, so by 2030 we look at gas demand hitting 4.5 trillion cubic meters of gas per year. That's 50% up from today's level.
Mr Brinded was equally bullish on prospects for liquefied natural gas which he saw growing a lot faster' than overall gas demand, driven by China's economic growth and higher demand in Europe and countries such as Malaysia, Thailand, Singapore, Pakistan, Kuwait, the United Arab Emirates and Bahrain.
He said that despite the difficult market we've had in the last year in the recession, we expect global LNG demand to double this decade,' said Brinded, who expects China's gas demand to 'double or treble by 2020 from around 100 billion cubic meters. This boom in LNG demand will need to be matched by a similarly rapid increase in supply, which is currently growing by at least 6% to 8% per year.
Mr Brinded said that he was confident this was possible. There is enough gas around, this is increasingly clear. Some USD 5 trillion would be needed over the next 20 years or USD 220 billion per year to extract this gas. These figures are staggering. The gas is there, it is going to take investments and it needs a lot of new technology. This is truly an energy revolution.
(Sourced from Reuters)
Review: http://www.steelguru.com/news/index/MTQzMTY1/Global_gas_demand_to_shoot_up_50pct_by_2030.html
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