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QNA
Nagoya, Japan
Qatar has not missed out a single shipment to its valued customers worldwide despite the unjust and illegal siege by its neighbours since June 2017, Minister of Energy and Industry HE Dr Mohammad bin Saleh al Sada has stressed.
He was addressing the 7th LNG Producer - Consumer Conference 2018 held at Nagoya City in Japan on Monday. He emphasised that Qatar placed its relationship with its customers on top of its priority list.
Sada said he expected LNG production to increase by 43 percent from the current 77 to 110 million tonnes per annum.
The minister said that gas was forecast to be the fastest-growing fossil fuel in the global energy mix. He added that the growth rate of LNG has surpassed all other sources of energy.
The production is planned to commence by 2024, thereby largely contributing to global efforts to bridge the gap between the supply and demand of LNG. The demand-supply mismatch is expected to emerge starting from mid 2020s.
Sada said that the second wave of LNG-production, led by the addition of four world-class LNG trains in Qatar, besides upcoming substantial production facilities in USA, Mozambique, Canada and other countries would further boost international LNG trade.
He said the growing LNG trade was a second revolution in the natural gas sector, and a natural evolution to meet the rising need for cleaner energy, and delivered at the doorstep of consumers around the world.
The minister added that by 2040, LNG was expected to exceed the volumes of natural gas delivered by pipeline and would make up the bulk of gas trade for the first time.
Sada met with US Deputy Secretary of Energy Dan Brouillette and discussed matters of common interest in the field of energy on the sidelines of the conference.
He also met with IEA Executive Director Fatih Birol and discussed the latest developments in the oil and gas markets.
The LNG Producer-Consumer Conference is a global annual forum, providing an opportunity to promote active dialogue among LNG producers, consumers and other stakeholders with a view to deepening shared understanding of market trends and to develop the global LNG market.
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23/10/2018
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