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) of gas with average break-even prices of $2.5 per MMBtu [Million British Thermal Units].

According to the International Energy Outlook 2016 (IEO2016) Reference case, consumption of natural gas worldwide is projected to increase from 120 trillion cubic feet (Tcf) in 2012 to 203 Tcf in 2040. By energy source, natural gas accounts for the largest increase in world primary energy consumption. Keeping in mind how the West and European countries are moving towards reducing the carbon footprint and looking for eco-friendly energy sources, natural gas is going to be the next best option.

Increasingly nations worldwide in need for natural gas are moving away from the US and moving to the Middle East, as they see a better hope of infrastructure, cheaper source for a long term association to meet their respective domestic demands. 

Comments

Post a Comment

Popular posts from this blog

Why Is Truss Government Looking At Relaxing Immigration Rules?

-
Image
UK is moving towards relaxing labor shortage norms to make up for the windfall in its crucial food industry There are plans in the UK to ease off immigration rules as the country faces issues with labour shortage and need to boost economic growth. There are plans to expand the government’s shortage occupation list in order to fill in crucial vacancies. The best way that the new PM sees is by inviting overseas workers. A range of sectors are facing labor shortage and Ms Truss has been getting requests from the various to ease off immigration restrictions to ease off the labor shortage pressures. Businesses it is told have been frustrated over the visa system for skilled workers of being unresponsive to not fill the windfall. A severe shortage in farming for example needs to be addressed. Such shortages, it seems is looking like it will badly affect food and the farming sector. The first one to be helped would be the seasonal workers’ programme. Similarly, those in dire need will nee...
Read more

How University Of Glasgow Is Reviving The Art of Knitting

-
Image
There are ways and then there are more ways to keep our traditions alive. A university in the UK has found a novice way of keeping the tradition of knitting alive, by launching a book on knitting patterns based on the architecture of the university. The University of Glasgow has collated a book of such patterns that were invited from designers from all over Scotland and are based on the ‘iconic’ cloisters on the Gilmorehill campus and the ‘modernism’ of the library. The university has gone ahead and also employed knitter who resides with the university and will help in creating the patterns.  Staff and students have been alike, invited to take part in the competition to produce original knitting patterns that are inspired by the university. They have also been encouraged to use Cochno wool. University actually launched its own wool in 2018, called the Cochno that was well received by knitters around the world. The book named as the Knitting The University of Glasgow , is a jo...
Read more

North Korean Construction Workers Run For Their Lives From Russia

-
Image
While North Koreans make for a large population of migrant workers, the pressure to lose their lives working in the war-ravaged Ukraine has left them scared In a surprising revelation, North Korean construction workers are discovering that they are in fact been employed to be sent to Ukraine from Russia. Fearing for their lives, these migrant workers are now running for their lives as none would want to the ongoing war-ravaged country. The ongoing war has led to massive loss of lives and infrastructure, which Russia is on its own volition deciding to rebuild, employing migrant workers from North Korea . The same construction migrants are now running into hiding fearing for their lives. 'After getting the news that the workers would soon be moved to a new construction site in Ukraine, and needed to settle everything by the end of September, many have escaped. It's not only the construction workers, but also management officials escaping,' an unnamed source told the pub...
Read more