Doha 14 Dec 2017
A boom in LNG trade will continue till 2040 and onward, said by Dr. Syed Mohammad Hussein Adeli, out-going Director General of Gas Exporting countries. He was addressing on the occasion of release of 2017 Report on Energy Outlook and monthly address to diplomats, energy experts and members of the media.
He said that expansion in LNG sector continue to be seen in the coming years including 30% increase in Qatar’s LNG production, as well as in other GECF member states like Russia, Iran, UAE, in addition to US and Australia. He observed that Egypt is also seen unexpectedly to join early as producing country.
The developments in Qatar and Iran will increase the region’s share of LNG exports to more than 30% by 2025, he said.
Dr. Adeli, among world’s top energy experts is former Minister of Iran and a former Irani ambassador said that a significant development in pipeline infrastructure is taking place in CIS region, that will drive exports to China and Europe.
He told that world possesses around 465 TCM, out which 180 TCM is identified as proven conventional reserves. GECF Chief said that GECF member states share in gas exports is about 65 %.
He said that GECF countries have the largest share of gas reserves and production capacity in the world. Natural gas demand and supply will remain strong in the long term, however, disequilibrium may occur for short periods.
GECF Chief said that demand for energy is rising and will position natural gas as the fastest growing fossil fuel.
2017 Outlook reports that unconventional gas resources would play a greater role in coming future. The share of the GECF countries will drop from 59% in 2016 to 47% by 2020, then is expected to rise to 52% by 2025 and 50% by 2040. The ‘Outlook’ expects that unconventional gas in total gas production will rise from 16% (appx.) today, to over 30% in 2040.
Dr Adeli said that Solar and Coal energy will play a significant role in future, however, petrol and LNG will maintain it’s position.
On a question by asiantelegraphqatar.com, Dr. Adeli said that usage of LNG Gas is environment friendly and it is recommended to use LNG instead of other means to help in reducing CO2. In regards to US President Trump back out from Paris Agreement in December 2015, he said that although Mr Trump is Head of State, however, he believes that since all States in US enjoys their own liberty, majority of states will abide by Paris agreement because of it’s serious nature for the safety of the humanity.