(MENAFN - Qatar News Agency) HE Qatar's Minister of Energy and Industry, Dr Mohammed bin Saleh Al Sada said that natural gas offers good opportunities for industrial development that can unleash the economies of developing countries in a sustainable manner which will contribute to raising incomes and reducing poverty.
HE Dr. Al Sada stressed in a speech at the opening of a session on "Natural Gas as an Engine of Growth" held within the activities of UNCTAD XIII, that sustainable access to energy is essential for the proper functioning of modern economies for many developing countries.
He added that to ensure a reliable and sustainable gas supply is still the main constraint for many developing countries, pointing out that these countries need to secure their energy supply in order to push forward the wheel of national economy.
HE the Minister of Energy and Industry pointed out that energy is the cornerstone of economic development of any country, explaining that the fossil fuel currently accounts for 83 percent of global energy consumption and is expected to meet 80 percent of the world's energy needs.
Dr. Al-Sada noted that Qatar is able to produce 77 million tons of liquefied natural gas to become the largest supplier and producer of LNG in the world, stressing the commitment of the State of Qatar to environmental aspects with regard to maintaining the climate and reduce emissions. He noted that Qatar's efforts are not limited to taking some measures towards local community but also about joint cooperation with the international community in this regard.
HE Minister of Energy and Industry highligted the Liquified Natural Gas LNG for its qualities and nature as receiving international attention as a first option that works on reduction of emissions and as well for its effectiveness , the multiplicity of uses, the huge reserves size and geographic distribution.
He noted that the statistics show that demand for natural gas will increase by more than 60 percent until the year 2040, adding that LNG will grow rapidly to occupy the place of coal, and to taks the second in the list of the most commonly used fuels worldwide after oil.
Dr. Al-Sada stressed the need to provide access to clean energy sources that are more effective and less costly for the greater number of people in the world, but he warned at the same time that the reducing the income for the producers of oil or gas could undermine investments and prevents these countries from new projects, and thus affect the future of energy demand.
Meanwhile, Secretary-General of the UNCTAD Supachai Panitchpakdi stressed that energy is one of the key elements for achieving sustainable growth, and pointed out to the role of UNCTAD on trying to provide energy to all parts of the world, warning at the same time, from the negative impact of raising energy prices. He also called for increasing the size of the use of renewable energy.
He explained that the expansion in the use of gas would help the world to develop its economy due to lower prices and the low level of emissions from its use.
Participants in the meeting confirmed that there is a global increase in energy demand and that the gas can play a vital role in meeting energy demand, and work to develop the economies of many developing countries, especially African, in which strategic stocks of natural gas are available.
They also referred to the importance of sharing knowledge and technology on the applications of natural gas and how to benefit from it, which would push the economies of these countries towards sustainable growth.