The 7th Asian Ministerial Energy Roundtable in Bangkok, Thailand was held under the theme Global Energy Markets in Transition: From Vision to Action. Dr Mohammad Bin Saleh Al-Sada, Minister of Energy and Industry, headed Qatar’s delegation to the 3-day event.
In his speech during a session on Natural Gas: Overcoming Market and Policy Hurdles to the Golden Age of Gas, Dr Al-Sada said that world energy analysts expected global gas consumption to increase by over 50% between now and 2040, and is becoming the fastest growing fossil fuel, and the centrepiece of the energy equation.
He said that the market for LNG is expanding beyond the Power sector to include long-haul road transport and marine sectors as well. Dr Al-Sada explained that LNG is steadily becoming the fuel of choice across the globe, as consumers continue to seek an energy source that supports economic development while adequately addressing environmental concerns.
The Minister said that Asia’s emerging economies have come to the forefront with regards to energy demand, underpinned by economic growth and a demographic boom.
The outlook for expansion of LNG consumption and imports in Asian countries such as Pakistan, Thailand, and Bangladesh are very promising. Other countries such as Sri Lanka, Vietnam, and the Philippines are expected to join Asia’s list of LNG importers which currently include Japan, South Korea, China, India, Taiwan, Pakistan, Thailand and Bangladesh.’
Dr Al-Sada added that global LNG demand is expected to grow to about 314 Mtpa by 2020 and to nearly 500 Mtpa by 2030.
Dr Al-Sada also said that Qatar highly values its relationship with customers, and will not compromise its image as a reliable supplier, even under adverse circumstances.
The State of Qatar took all the necessary measures to ensure the steady, uninterrupted flow of oil and gas to its customers, emphasising that the country work with buyers as a ‘complete energy solution provider’.
In conclusion, Dr Al-Sada said he is setting a challenge for the LNG industry to find a balance between the buyers’ pursuit of competitiveness and flexibility, and the producers’ need to maintain a healthy cash flow.
Doha hosted the 6th edition of the Roundtable in 2015.