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."
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|