As Gas Goes Global, Will Qatar Cope?

Qatar will face the emergence of Australia as a new power in global LNG, while the US will also challenge its dominance.

Although we take electricity for granted, the provision of the energy required to keep power stations going is a difficult task.

Natural gas’ abundance – world reserves were calculated at 7,360 trillion cubic feet by BP in its 2012 Statistical Review of World Energy – makes it the ideal fossil fuel for efficient, clean energy creation.

“World proved natural gas reserves at end-2011 were sufficient to meet 63.6 years of production,” the review said.

“A large increase in Turkmen reserves pushed the [reserves-to-production] ratio for Europe and Eurasia to 75.9 years. The Middle East still holds the largest reserves (38.4 per cent of the world total, compared with 37.8 per cent for Europe & Eurasia) and has an R/P ratio of over 150 years.”

Read more: http://gulfbusiness.com/2013/04/as-gas-goes-global-will-qatar-cope/