Natural Gas Is The Preferred Energy Source For Future
It is strange but true that amidst the growing scare and unrest over the coronavirus , the Middle East oil and gas market is reportedly growing twice as fast as the global energy demand. This has been confirmed by the Boston Consulting Group ’s report (BCG) and International Gas Union (IGU). Both have suggested that the Middle East and Asia-Pacific have demonstrated the strongest growth in gas demand in the past ten years – growing at an average of 4.6% per year, double the rate of global primary energy demand. Due to limitations of regional infrastructure, many Middle Eastern countries are apt to use foreign supply chain for lucrative gains from the large gas reserves that they have. So connecting gas reserves with the end-use markets at a low cost is a more hopeful picture to engage in infrastructure investment, and policy support. The report has estimated that by 2030, the Middle East would be capable of delivering approximately 8,500 billion cubic meters (bcm) ...