As if things weren't looking peachy enough for gas producers, especially Qatar, the retrenchment of nuclear programs around the world has given producers more reason to cheer. While the Gulf state's hydrocarbon sector is expected to take a back seat to the non-hydrocarbon sector over the next five years, the gas sector will remain one of the pillars of the country's economy.
June 8, 2011
08 June 2011 As if things weren't looking peachy enough for gas producers, especially Qatar, the retrenchment of nuclear programs around the world has given producers more reason to cheer. While the Gulf state's hydrocarbon sector is expected to take a back seat to the non-hydrocarbon sector over the next five years, the gas sector will remain one of the pillars of the country's economy.
The world could be entering a "golden age of gas," according to the IEA in a recent report, with Qatar at the forefront of these developments.
According to the report, gas could meet 25% of the world's energy demand, overtake coal demand by 2030 and be at par with oil demand by 2035, if its plays its cards right.
"Since early 2009, 100 bcm per year of liquefaction capacity has come on-line, of which more than 60 bcm is located in Qatar; this country now accounts for more than a quarter of world liquefaction capacity. As of mid-2011, total liquefaction capacity is estimated to be 370 bcm."
Total LNG trade grew 25% in 2010, to nearly 300 bcm, as most new plants reached their plateau production rates. Over the coming years, China, India and several countries in the Middle East and Latin America are set to become increasingly reliant on LNG imports.
