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169810
Mon, 03/21/2011 - 20:58
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Qatargas Director General Recognises Share of Natural Gas in Future Energy Mix
Doha, March 21 (QNA) - Qatargas CEO, Sheikh Khalid Bin Khalifa Al Thani, at GASTECH recognises that the share of natural gas, in the future energy mix, is likely to increase, as the fuel is environmentally attractive, abundant and widely distributed.
In his Key Note address before 25th GASTECH which opened in Amsterdam on Monday under the title, "The Role of Gas in the Future Energy Mix" , he noted; in its most recent World Energy Outlook (November, 2010), the International Energy Agency (IEA) talked about natural gas markets being in the midst of a revolution and asked whether it would herald a new golden era for gas.
He said: "Today, I would like to look a little more closely at the role of gas in the future energy mix. Though, talk of a new golden age may be going a little far, it seems to me that exciting times are ahead for our industry" adding "Undoubtedly these are interesting times for Qatargas and the State of Qatar. Just a few months ago, the State of Qatar celebrated the achievement of delivering HH the Emir Sheikh Hamad Bin Khalifa Al Thani's vision of the production capacity of 77 million tonnes of LNG per annum, of which Qatargas played an instrumental role.
Now with the recent start up of the Qatargas 4 liquefaction project, Qatargas now has confirmed its position as the world's largest LNG producing company."
He explained that the world now seems to be emerging from the worst economic crisis in decades, where inevitably, this brings with it growth in primary energy demand. The IEA anticipates that primary energy demand in 2035 would be some 36 per cent higher than it was before the 2008 crisis, where China and India will likely be the key drivers of this increase. He noted that preliminary data suggests that in 2009 China overtook the US to become the world's largest energy consumer.
Sheikh Khalid Al Thani noted that; technological developments, which Qatargas has been at the forefront, means that natural gas can be economically transported over increasingly long distances. Adding that environmental factors will be key drivers for the Natural Gas business's continued growth. Natural Gas is cleaner burning than any of the other fossil fuels and is the fuel of choice for power generation in an increasingly carbon-constrained world. Qatargas CEO, Sheikh Khalid Bin Khalifa Al Thani further said ,'' In addition, there are many interesting developments in the field of gas as a transportation fuel - not just 'gas to liquids' but also as a liquefied or compressed fuel in its own right. Demand from the marine, rail and road transport sectors could rapidly expand the Natural Gas markets''.
Elaborating he said,''These are benefits which will be seen, not only in the developing world where the ease and relatively low cost of gas-fired power generation is important - but also in the developed world. Natural Gas is the only fossil fuel where demand to 2035 is expected to increase in both in the Organisation of Economic Co-operation & Development (OECD) countries but also in the non-OECD countries.
Within this outlook of increasing demand for Natural Gas, LNG as a percent of natural gas supply should grow even faster. Some authorities forecast that LNG production could triple by 2030, creating the need for additional sources of supply.
"In my view, the capital intensive and long-term nature of the LNG business will require that long-term contracts continue to underpin the development of the LNG industry - though a more active spot market is evolving. Equally, financial strength based on guaranteed project revenues from the robust Sales & Purchase Agreements (SPA's) and our strong shareholder commitments are fundamental elements for the continued evolution of our Qatargas business," he said.
He concluded: " Qatargas, as a leading player in the Natural Gas industry, will continue its efforts with regard to gas advocacy to further enhance the reputation of the industry." (QNA)
The company will take over on the third day of the conference provided a Green Award in recognition of the importance of its fleet of LNG carriers modern.
Will also feature the company / Qatar Gas / marine facilities, land, and the fleet of tankers for liquefied natural gas and refinery projects and transportation during the exhibition. (QNA)
In his Key Note address before 25th GASTECH which opened in Amsterdam on Monday under the title, "The Role of Gas in the Future Energy Mix" , he noted; in its most recent World Energy Outlook (November, 2010), the International Energy Agency (IEA) talked about natural gas markets being in the midst of a revolution and asked whether it would herald a new golden era for gas.
He said: "Today, I would like to look a little more closely at the role of gas in the future energy mix. Though, talk of a new golden age may be going a little far, it seems to me that exciting times are ahead for our industry" adding "Undoubtedly these are interesting times for Qatargas and the State of Qatar. Just a few months ago, the State of Qatar celebrated the achievement of delivering HH the Emir Sheikh Hamad Bin Khalifa Al Thani's vision of the production capacity of 77 million tonnes of LNG per annum, of which Qatargas played an instrumental role.
Now with the recent start up of the Qatargas 4 liquefaction project, Qatargas now has confirmed its position as the world's largest LNG producing company."
He explained that the world now seems to be emerging from the worst economic crisis in decades, where inevitably, this brings with it growth in primary energy demand. The IEA anticipates that primary energy demand in 2035 would be some 36 per cent higher than it was before the 2008 crisis, where China and India will likely be the key drivers of this increase. He noted that preliminary data suggests that in 2009 China overtook the US to become the world's largest energy consumer.
Sheikh Khalid Al Thani noted that; technological developments, which Qatargas has been at the forefront, means that natural gas can be economically transported over increasingly long distances. Adding that environmental factors will be key drivers for the Natural Gas business's continued growth. Natural Gas is cleaner burning than any of the other fossil fuels and is the fuel of choice for power generation in an increasingly carbon-constrained world. Qatargas CEO, Sheikh Khalid Bin Khalifa Al Thani further said ,'' In addition, there are many interesting developments in the field of gas as a transportation fuel - not just 'gas to liquids' but also as a liquefied or compressed fuel in its own right. Demand from the marine, rail and road transport sectors could rapidly expand the Natural Gas markets''.
Elaborating he said,''These are benefits which will be seen, not only in the developing world where the ease and relatively low cost of gas-fired power generation is important - but also in the developed world. Natural Gas is the only fossil fuel where demand to 2035 is expected to increase in both in the Organisation of Economic Co-operation & Development (OECD) countries but also in the non-OECD countries.
Within this outlook of increasing demand for Natural Gas, LNG as a percent of natural gas supply should grow even faster. Some authorities forecast that LNG production could triple by 2030, creating the need for additional sources of supply.
"In my view, the capital intensive and long-term nature of the LNG business will require that long-term contracts continue to underpin the development of the LNG industry - though a more active spot market is evolving. Equally, financial strength based on guaranteed project revenues from the robust Sales & Purchase Agreements (SPA's) and our strong shareholder commitments are fundamental elements for the continued evolution of our Qatargas business," he said.
He concluded: " Qatargas, as a leading player in the Natural Gas industry, will continue its efforts with regard to gas advocacy to further enhance the reputation of the industry." (QNA)
The company will take over on the third day of the conference provided a Green Award in recognition of the importance of its fleet of LNG carriers modern.
Will also feature the company / Qatar Gas / marine facilities, land, and the fleet of tankers for liquefied natural gas and refinery projects and transportation during the exhibition. (QNA)
