Qatar says the world will need more LNG projects after 2030

Natural gas in energy supply is not going anywhere and its demand will only rise with growth in economies and global population, which will require additional LNG projects to come online after 2030, the Energy Minister of one of the biggest LNG exporters, Qatar, said on Wednesday, oilprice.com reports.

“Everybody’s trying to get the inflation down, so if we have a reasonable economic growth going forward, I think you’ll see that all the supply and demand will catch up and you’ll need another phase of development of gas in the [2030s],” Saad Sherida Al-Kaabi, Qatar’s Energy Minister and President and CEO of QatarEnergy, said at the Qatar Economic Forum in Doha.

‘If you look at the expectation of having 1.5 to 2 billion more people in the next 30 years or so, that means we will need more energy, more power and even more petrochemicals for materials we use every day. We also need to be fair to that population and make sure they have access to reasonably priced power,’ he added.

Qatar, which is currently working on huge LNG expansion projects, expects to sign additional long-term contracts to supply the super-chilled fuel with demand growing in Asia and Europe, Al-Kaabi said at the forum.

READ: Qatar aims more long-term gas supply deals this year