07 March 2012 19:30 [Source: ICIS news]
HOUSTON (ICIS)--Anglo-Dutch oil major Shell for the first time will produce more natural gas than oil in 2012, the company's chief executive CEO said on Wednesday.
Peter Voser said natural gas will play an even bigger role than previously assumed in the race to meet global demand for energy, which may triple by 2050.
"The world needs to invest heavily in energy production, both in traditional sources and in renewables," he said in at the 31st annual IHS CERAWeek energy conference in Houston.
"But while we expect gas to play a larger role in meeting the world's future enregy needs, it's not entirely clear today how this new story will play out."
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