QATAR: HE Al-Mohannadi, CEO of RASGAS …the increasing demand for eco-friendly fuels such as liquefied natural gas will make LNG the fuel of choice in the next decade

Al-Mohannadi during a panel discussion in Houston.

The increasing demand for eco-friendly fuels such as liquefied natural gas will make LNG the fuel of choice in the next decade, a top RasGas official said during the 17th International Conference and Exhibition on Liquefied Natural Gas in Houston, Texas.

Speaking on a panel discussion on “Global Strategy Forum”, RasGas CEO Hamad Rashid al-Mohannadi said, “LNG imports have been received by 27 countries and many new importers and exporters are on the horizon. Qatar, for example, has reached its goal of 77Mta (million tonnes a year) and is now moving forward with new projects overseas through Qatar Petroleum International.”

The triennial event brings together over 5,000 industry professionals and 10,000 trade visitors.

Al-Mohannadi cited the increasing demand for LNG-powered vehicles worldwide. Australia, Korea and the European Union have also been pushing for LNG-powered ships.

“If we cannot satisfy this increasing demand, then the opportunity that LNG has to be the fuel of choice may be compromised,” he said.

Since many projects today face delays, he noted that the market may remain tighter for longer, but easing by 2020.

“Projects in the planning stage are being challenged by tough economics and strong competition as industry costs soar,” he said.

Source: Caye Global, Gulf Times

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