Abstract

Gas resources can easily meet the projected increase in global demand. However, international trade in energy will need to expand to accommodate the growing mismatch between the location of demand or production. The Middle East nations emerge among the leading countries, with a reserve to production ratios exceeding 100 years. Although some have significant domestic consumption, this mostly leaves ample potential for exports. Most of the incremental output in the Middle East will be exported to North America, Europe and Asia, where indigenous production will fall behind demand on the short to medium term. The key question is whether the Middle East can live up to the consuming countries’ supply expectations.Anouk Honoré, Fellow, works on the Natural Gas Research Programme of the Oxford Institute for Energy Studies (United Kingdom) and especially on the liquefied natural gas in Europe and the Atlantic basin, on the issues of price, demand and energy production.