(MENAFN- The Peninsula) The Peninsula
Minister of Energy and Industry H E Dr Mohammed bin Saleh Al Sada said that Qatar highly values its relationship with its customers, and will not compromise its image of being a reliable supplier, even under adverse circumstances.
Speaking at the 7th Asian Ministerial Energy Roundtable that concluded on Wednesday in Bangkok, Thailand, Dr Al Sada said Qatar had taken all necessary measures to ensure the steady, uninterrupted flow of oil and gas to its customers. He also emphasised that Qatar seeks to work with buyers as a ‘complete energy solution provider'.
In his speech in the session titled: Natural Gas: Overcoming Market and Policy Hurdles to the Golden Age of Gas, Dr Al Sada said that world energy analysts expect global gas consumption to increase by over 50 percent between now and 2040, and is becoming the fastest growing fossil fuel, and the centerpiece of the energy equation.
He added that the market for LNG was expanding beyond the power sector to include long-haul road transport and marine sectors as well. He explained that LNG was steadily becoming the fuel of choice across the globe, as consumers seek an energy source that supports economic development while adequately addressing environmental concerns.
Dr Al Sada said that emerging economies of Asia have come to the forefront with regard to energy demand, underpinned by economic growth along with a demographic boom. Minister of Energy and Industry H E Dr Mohammed bin Saleh Al Sada added that the outlook for expansion of LNG consumption and imports in Asian countries such as Pakistan, Thailand, and Bangladesh was very promising, and that other countries such as Sri Lanka, Vietnam, and the Philippines are expected to join the Asian list of LNG importers that currently include Japan, South Korea, China, India, Taiwan, Pakistan, Thailand and Bangladesh.
The Minister added that global LNG demand is expected to grow to about 314 Mtpa by 2020 and to nearly 500 Mtpa by 2030.
The challenge for the LNG industry at present was to find a balance between buyers' pursuit of competitiveness and flexibility and producers' need to maintain a healthy cash flow, out of the exploitation of their natural resources and to determine the viability of their projects.
The 6th version of the Roundtable was held in Doha in 2015.
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