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Gas seen as key source of energy

Kuwait, April 4, 2011

Natural gas should become a key source of energy as the energy demand will grow some 40 per cent by 2030, and likely double by 2050, said an expert.

Mark Carne, Shell’s executive vice president – Mena, was speaking at the Kuwait Oil and Gas Summit & Exhibition, which opened today (April 4) and will run up to April 6.

The event is being hosted by Kuwait Petroleum Corporation (KPC), a major partner of Shell in the Middle East.

Carne highlighted that the case for gas is compelling overall, but the specific way in which gas interacts with a country’s economy varies enormously from one country to another.

He added that natural gas should become a key source of energy for two main reasons.

Firstly, gas is abundant as recent estimates by the IEA assure that at current demand levels there are over 250 years of global reserves available.

Secondly, gas is economically affordable compared to burning fuel oil in power stations and thirdly it emits less CO2 and is environmentally more acceptable.

“Shell has a proud history in the region over the last 100 years,” Carne said.

“By focusing on integrated gas, technology, and partnerships, Shell intends to be a vital part of the energy future that lies ahead. Shell has been working closely with Kuwait Petroleum Corporation (KPC) to provide imports of liquefied natural gas (LNG) from a diverse, secure portfolio,” he added.

In partnership with Kuwait Oil Company (KOC) Shell is also working to develop the Jurassic gas fields which will enhance domestic gas supplies and reduce the need for LNG imports, Carne said. – TradeArabia News Service




Tags: Shell | LNG | KOC | KPC | natural gas | Kuwait Oil and Gas Summit |

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