As the world moves toward renewable energy or lower emission fuels, natural gas has emerged as a compromise energy source.
While most environmental groups are still not convinced that natural gas should be a prominent player in a furlture low carbon world. The international energy agency expects global natural gas demand to rise 2.5 percent annually at least very the next five years.
With China, India and emerging Asia accounting for more than half of the increase. Over the next 30 years, global gas demand will rise 30% although it will face intense competition from renewable sources.
Detecting an opportunity to capture more market share, Qatar, the world’s biggest liquified natural gas exporter , unveiled a massive $28.75 billion bet Tuesday to develop 32 million tones per year of its production from its lucrative North Field- the world’s largest natural gas field.
It will be largest single LNG project sanctioned in History, according to the research firm Wood Mackenzie. It will also be more than two times the proposed capacity of under construction LNG Canada project on the west coast being developed by Royal Dutch Shell PLC.
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