Doha, Qatar: Secretary General of the Gas Exporting Countries Forum (GECF), H E Dr. Philip Mshelbila underlined role undertaken by the State of Qatar in the global liquefied natural gas (LNG) market.
He noted that Qatar serves as a key strategic partner in shaping the future of the energy sector, with its expansion plans contributing effectively to enhancing global supply security.
Speaking to QNA on the sidelines of the 8th Summit of Heads of State and Government of the Gas Exporting Countries Forum (GECF), held in Moscow, Russia, His Excellency emphasized the importance of the State of Qatar’s participation in the summit. He also expressed his deep appreciation for Doha’s role in hosting the forum’s headquarters and for its ongoing support of the organization’s efforts.
He indicated that meeting global demand for natural gas will require investments of approximately $12 trillion over the next thirty years, with demand projected to rise by 31 percent, thereby underscoring the importance of gas to global energy security and its role in addressing the growing needs of developing economies.
His Excellency highlighted that approximately 80 percent of the gas expected to be produced three decades from now will come from new sources and production projects, given the natural decline in output from existing fields, making investment in the development of resources and sector infrastructure essential to ensure the continuity of supplies.
He noted that the forum’s projections indicate a rise in global gas demand to approximately 5.417 trillion cubic meters by 2055, increasing its share in the primary energy mix to 26 percent. He further pointed out that the Asia-Pacific region will account for about 43 percent of this growth, followed by the Middle East with 23 percent.
