+44 207 394 30 90 (London)

Gas will become a key energy source in 17 years

Main » News » Gas will become a key energy source in 17…

The global share of fossil fuel will be a half lower by 2050, and before 2034, gas is expected to become the key energy carrier.

The global share of fossil fuel will be a half lower by 2050, and before 2034, gas is expected to become the key energy carrier. As informed by Sergey Donskoy, Russian Minister of Natural Resources, alongside the global increase in energy source diversity, the share of mineral fuel will register a 30% reduction by 2050.
The Minister also added that oil and gas will account for 44% of global shipments (to compare to the present-day 53%).
All mentioned above results in the necessity of developing new oil and gas production centres across the country.
It should be noted that, by the Minister’s estimates, the present reserve replacement situation is quite favourable. As a reminder, last year recorded the gain in oil reserves as of 575 m t, while gas reserves built up by 702 bcma.

MORE

Exclusive: Enterprise Products explores sale of Texas oil terminal stake – document

U.S. pipeline operator Enterprise Products Partners LP is looking to sell its 50% stake in a recently-completed South Texas crude export terminal, according to a marketing document viewed by Reuters. Enterprise is weighing an exit from the joint venture with terminal operator Plains All American Pipeline LP after proposing to build its own offshore port…


Novatek says ships 1st Yamal LNG cargo via Northern Sea Route

Russia’s largest independent natural gas producer, Novatek said Wednesday it shipped the first liquefied natural gas cargo from its giant Yamal LNG export plant via the Northern Sea Route. The 172,000-cbm ice-class LNG carrier Vladimir Rusanov left the Yamal LNG port in Sabetta on June 25 and is heading towards China, Mark Gyetvay, Novatek’s finance…


Putin vows tenfold Arctic shipping by 2025

Delivering his state-of-the-nation speech to the parliament on Thursday, Russian President Vladimir Putin highlighted the importance of speeding up the countries infrastructure developments. The Arctic plays a strategical important role in the plan. «A number of large-scale industrial projects in the Arctic have already been launched,» Putin said and ensured those projects meet the strictest…