Rising Gas Demand in Arab Oil Exporting Countries
Dubai: Gas demand in the Arab region has grown faster than oil
demand in the past 10 years to peak at 3.34 million barrels of oil
equivalent per day last year, according to a study by the 10-nation
Organisation of Arab Petroleum Exporting Countries (Oapec).
demand is projected to rise to 4.08 million boed in 2010 and to 5.1
million in 2015 before it climbs to a record 6.4 million, an annual
growth of 4.4 per cent between 2005 and 2020, the Kuwait-based Oapec
said in a report published in the Gulf Daily News.
growth is expected to expand the share of gas in the Arab energy
market to 41.5 per cent in 2005 to 46.2 per cent in 2020.
expansion will be at the expense of oil products demand, whose share
will slide to around 51 per cent from 55.8 per cent in the same
period, the study said.
showed consumption of oil products is projected to grow from about
4.5 million bpd in 2005 to 5.14 million bpd in 2010, to 6.02 million
bpd in 2015 and 7.07 million bpd in 2020, an annual growth rate of
nearly 3.1 per cent during 2005-20.
projections show that the gas share will continue to grow during
that period while the market share of oil products will decline,'
the Oapec spokesman said.
for the total energy consumption, it is forecast to increase from
8.05 million boed in 2005 to 9.46 million in 2010, to 11.44 million
in 2015 and 13.85 million in 2020, an average annual growth rate of
3.7 per cent.
Saudi Arabia is expected to consume nearly a quarter of the total
Arab energy demand in 2020 as its consumption is forecast to climb
from 2.1 million bpd in 2005 to 3.47 million bpd in 2020.
for per capita energy consumption in the Arab world, it is projected
to grow by 2.1 per cent to around 12.8 boed in 2020 from 9.4 ebpd in
2005 despite a rapid growth in the population,' the study said.
'This increase will be a natural result of economic growth and plans
by regional states to rely more on gas in their energy consumption
mainly in industries, domestic use and power generation.'
separate study, Oapec said combined Arab gas exports have soared by
more than 25 per cent over the past five years, leaping from 83,043
million cubic metres in 2000 to a record 104,770 million cubic
metres in 2005.
bulk of the increase was in Qatar, with its exports of natural and
liquefied natural gas jumping from around 14,040 million cubic
metres to 24,060 million cubic metres.
Qatar controls the third largest gas resources in the world after
those of Russia and Iran, estimated at over 25 trillion cubic metres
at the end of 2005.
Gulf producer has embarked on mega projects to tap its mammoth North
Field and become the world's number one in LNG exports, which have
already exceeded 25 million tonnes a year and are projected to climb
to 77 million tonnes in 2011.