Qatar key strategic partner in shaping energy sector future

Doha, Qatar - Secretary General of the Gas Exporting Countries Forum (GECF), Dr. Philip Mshelbia, highlighted the crucial role Qatar plays in the global liquefied natural gas (LNG) market and how its expansion plans contribute significantly to augmenting global supply security. Dr. Mshelbia stressed the importance of Qatar's involvement in the GECF's summit, taking place in Moscow, Russia, and expressed gratitude for Qatar's role as the host of the forum's headquarters and its continued support for the organization's endeavors.

The World Bank's report underscores the global requirement for natural gas investments, projecting an investment of approximately $12 trillion over the next three decades to meet demand, which is expected to surge by 31 percent. Gas is pivotal for maintaining global energy security and catering to the escalating demands of developing economies.

Dr. Mshelbia pointed out that roughly 80 percent of the gas anticipated to be produced in thirty years will emanate from new sources and production projects, necessitating investments in resource development and sector infrastructure to guarantee uninterrupted supplies.

The GECF forecasts a rise in global gas demand to about 5.417 trillion cubic meters by 2055, representing a 26 percent share in the primary energy mix. The Asia-Pacific region is anticipated to contribute to 43 percent of this growth, followed by the Middle East with 23 percent.