05 December 2012 11:12 [Source: ICIS news]
SINGAPORE (ICIS)--Asia's growing demand for natural gas will drive new opportunities for energy major Shell in the long term as it seeks to further exploit various gas resources worldwide, a senior executive from the firm said on Wednesday.
"We see Asia having a significant increase in liquefied natural gas [LNG] demand and will drive the opportunities we have in our portfolio across the Australia region, across east Africa and across North America," said Andy Brown, director of Shell's upstream international business.
The demand for LNG will not only come from current key importers Japan and South Korea but increasingly from China and southeast Asia as well, Brown added.
Singapore, Vietnam, Indonesia are such countries where LNG imports are expected to grow in the future.
"Many countries across the Asian region will see LNG as an attractive alternative for burning coal for power generation" as well as for transportation, Brown said.
Asia's demand for natural gas is expected to surge from around 40bn cubic feet/day in 2010 to more than 100bn cubic feet/day in 2030, he said.
Shell currently has 22m tonnes/year of LNG production onstream, with 7m tonnes/year of production capacity under construction. The company also has over 20m tonnes/year of LNG capacity "options" available, according to Brown.
Conventional and unconventional recoverable gas resources can supply more than 250 years’ worth of current global gas production, he said, adding that tight/shale gas and coal bed methane resources are transforming the global gas market.
Tight/shale gas and coal bed methane resources could supply 123 years of current global gas output, he added.
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|
Asian Chemical Connections