Post by Ismail AbdulAzeez on Jun 23, 2013 3:45:27 GMT 1
Trinidad & Tobago has become one of three countries leading the world in liquified natural gas (LNG) export diversification, according to the BP Energy Outlook (through to the year) 2030. "Alongside the growth of LNG volumes, we have seen a diversification of trading partners for both exporters and importers. In 1990 each exporter or importer had an average of 2 partners – by 2011 that had risen to 9 and 6 respectively. Nigeria, Qatar and Trinidad & Tobago are leading export diversification, with an average of 20 trading partners in 2011," the Outlook said.
BP’s annual Energy Outlook contains BP's projections of future energy trends and factors that could affect them, based on BP economists' views of likely economic and population growth and developments in policy and technology. Together with the annual Statistical Review of World Energy, it has become a respected contribution to the global discussion on energy, BP Group Chief Executive Bob Dudley said in his introduction of this year's edition.
Last year’s edition showed how North America is likely to become self-sufficient in energy, he said. This year’s edition follows up by examining more closely the phenomenon which is driving America’s energy revival, the revolution in shale gas and tight oil, including its global prospects.
The Outlook describes a future that is different in several respects from what many expected just a short while ago, Dudley said. "We still expect global energy demand to grow – by 36% between 2011 and 2030 - driven by the emerging economies. Without continuous improvements in energy efficiency, demand would have to grow much more rapidly simply to sustain economic growth," he said.
Dudley said supply patterns are shifting and that the Outlook demonstrates how unconventional oil and gas are playing a major role in meeting global demand. Over the period to 2030, the US becomes nearly self-sufficient in energy, while China and India become increasingly import-dependent, Dudley noted.
"This report illuminates some of the consequences.The implications are far-reaching. Indeed, I believe they will stretch far beyond the boundaries of our industry," said Dudley.
He said the Outlook highlights the way energy resources are opening up. He said: "The energy industry is highly competitive and investment will flow to the places that possess the right resources below ground and the right conditions above it. Highlighting the 'above ground' factors that have made the US and Canada engines for energy innovation can be instructive for other nations seeking to develop their domestic energy resources. The overall conclusion is that increased demand can be met as long as competition is present to drive innovation, unlock resources and encourage efficiency. This is why we remain optimistic the world will produce the energy it needs to fuel continued economic growth."
Source: news.co.tt/public_html/article.php?story=20130618022311736
BP’s annual Energy Outlook contains BP's projections of future energy trends and factors that could affect them, based on BP economists' views of likely economic and population growth and developments in policy and technology. Together with the annual Statistical Review of World Energy, it has become a respected contribution to the global discussion on energy, BP Group Chief Executive Bob Dudley said in his introduction of this year's edition.
Last year’s edition showed how North America is likely to become self-sufficient in energy, he said. This year’s edition follows up by examining more closely the phenomenon which is driving America’s energy revival, the revolution in shale gas and tight oil, including its global prospects.
The Outlook describes a future that is different in several respects from what many expected just a short while ago, Dudley said. "We still expect global energy demand to grow – by 36% between 2011 and 2030 - driven by the emerging economies. Without continuous improvements in energy efficiency, demand would have to grow much more rapidly simply to sustain economic growth," he said.
Dudley said supply patterns are shifting and that the Outlook demonstrates how unconventional oil and gas are playing a major role in meeting global demand. Over the period to 2030, the US becomes nearly self-sufficient in energy, while China and India become increasingly import-dependent, Dudley noted.
"This report illuminates some of the consequences.The implications are far-reaching. Indeed, I believe they will stretch far beyond the boundaries of our industry," said Dudley.
He said the Outlook highlights the way energy resources are opening up. He said: "The energy industry is highly competitive and investment will flow to the places that possess the right resources below ground and the right conditions above it. Highlighting the 'above ground' factors that have made the US and Canada engines for energy innovation can be instructive for other nations seeking to develop their domestic energy resources. The overall conclusion is that increased demand can be met as long as competition is present to drive innovation, unlock resources and encourage efficiency. This is why we remain optimistic the world will produce the energy it needs to fuel continued economic growth."
Source: news.co.tt/public_html/article.php?story=20130618022311736
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