Despite some recent turbulence, the global business environment for liquefied natural gas (LNG) remains strong, and a continuous growth in demand is expected for years to come, said Khalid Sultan R Al Kuwari, Chief Marketing and Shipping Officer of RasGas Company Limited.
Speaking at the CWC 16th World LNG Summit in Rome Al Kuwari said that a growth rate of approximately 5% per year from 2015 to 2025 is anticipated. During this period, LNG demand is expected to outpace the overall growth in natural gas demand, he explained.
He was presenting his ‘Overview of the LNG Industry in the Year Past, the Present and the Future’ as a member of the Global Strategy Panel at the Summit.
He acknowledged that, “As Asia’s LNG supply has increased and demand has eased, the traditional Asia premium has been challenged. This, combined with the recent drop in crude prices and the resurgence of nuclear and coal for power generation, has changed the familiar landscape for LNG in Asia, and brought into question economics for some new and some planned LNG projects.”
New customers and new markets for LNG are also increasing at an ever faster pace, however, a wave of growth that Al Kuwari is optimistic RasGas will be at the forefront of.
RasGas Company Limited (RasGas) is one of the world's premier integrated liquefied natural gas (LNG) enterprises and has an enviable reputation for being a safe and reliable supplier of LNG that has transformed a regional resource into a key component of the global energy mix.