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Business / Qatar Business

Natural gas demand will grow significantly by 2030: Dr Al Sada

Published: 05 Oct 2018 - 12:27 am | Last Updated: 12 Nov 2021 - 09:24 am
H E Dr Mohammed bin Saleh Al Sada (right), Minister of Energy and Industry; Alexander Novak (centre), Russian Minister of Energy; and other officials participating at a panel discussion themed ‘Sustainable Energy in a Changing World’ at the Russian Energy

H E Dr Mohammed bin Saleh Al Sada (right), Minister of Energy and Industry; Alexander Novak (centre), Russian Minister of Energy; and other officials participating at a panel discussion themed ‘Sustainable Energy in a Changing World’ at the Russian Energy

QNA

MOSCOW: Minister of Energy and Industry H E Dr Mohammed bin Saleh Al Sada affirmed that the demand for natural gas will achieve the highest rate of growth among other fossil fuels during the period between now and 2030. This came during H E Dr Al Sada’s speech at the session held within the Russian Energy Week under the slogan “Sustainable Energy in a Changing World”.

H E Dr Al Sada said, at the session titled “The Global Gas Market in 2030”, that the liquefied natural gas (LNG) share of the gas market will grow at an average rate of 8 percent over the same period to equal the market share of pipeline gas by 2030. The Minister said that the growth in global demand for LNG will come mainly from Asia, while Europe is expected to face major challenges in the next phase of renewable energy sources. He added that the total demand for LNG will reach about 450 million tonnes annually by 2030, equivalent to more than 50 percent increase over 2017’s demand.

At a roundtable on “The Effectiveness of Energy Regulation: General Approaches and Divergence between Countries”, the Minister stressed that energy is one of the most important elements of the economic development process in any country, adding that ensuring the availability of various energy sources in an effective, acceptable and environmentally friendly way is the responsibility of everyone.

H E Dr Al Sada explained that the efficiency of energy systems can be achieved through cooperation and exchange of expertise on best practices in different energy uses, such as energy efficiency, reducing carbon emissions, and the use of renewable energy sources, as well as the development of appropriate legislation in various energy activities and the adoption of effective financial practices.

The Minister stressed the importance of awareness campaigns on the dangers of climate change and its consequences by implementing energy management programs, noting in this regard to Tarsheed campaign organized by the State of Qatar and its success in raising awareness about the importance of conserving energy sources, especially electricity and water, and in establishing the concept that rationalization is not a goal but a way of life.

On the sidelines H E Dr Al Sada met with HE Minister of Energy of the Russian Federation Alexander Novak.