04 Oct, 23

Middle East Gas Giants Look To Capitalize On Booming Demand

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Global gas demand is projected to rise in the next decade, thus influencing a 12.5% surge in production between 2023 and 2030. However, Rystad Energy forecasts that even in scenarios of 1.9 and 2.5 degrees Celsius warming, with rapid growth in renewable energy sources, the current set of existing gas fields will not meet global demand, requiring rapid growth in unconventional gas supply. Gas-rich geographies such as the Middle East, with basins such as Rub al Khali, will play an essential role in bridging that gap, providing an estimated 20 million…

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