Speaking at the Kuwait Oil and Gas Summit & Exhibition, Mark Carne, Shell’s Executive Vice President - Middle East and North Africa today outlined the company’s view of natural gas as a current and future source of energy for Kuwait and the region. The Kuwait Oil and Gas Summit & Exhibition, which is taking place in Kuwait between 4 and 6 April is being hosted by Kuwait Petroleum Corporation (KPC), a major partner of Shell in the Middle East. In a keynote speech, Mr. Carne highlighted that the case for gas is compelling overall, but the specific way in which gas interacts with a country’s economy varies enormously from one country to another. The first is that energy demand will grow some 40 % by 2030, and likely double by 2050. Shell believes that natural gas should become a key source of energy for two main reasons. Firstly, gas is abundant as recent estimates by the IEA assure that at current demand levels there are over 250 years of global reserves available. Secondly, Gas is economically affordable compared to burning fuel oil in power stations and thirdly it emits less CO2 and is environmentally more acceptable. Referring to Shell’s long standing commitment to the region, Mr. Carne said, “Shell has a proud history in the region over the last 100 years. By focusing on integrated gas, technology, and partnerships, Shell intends to be a vital part of the energy future that lies ahead. Shell has been working closely with Kuwait Petroleum Corporation (KPC) to provide imports of Liquefied Natural Gas (LNG) from a diverse, secure portfolio. In partnership with Kuwait Oil Company (KOC) Shell are also working to develop the Jurassic gas fields which will enhance domestic gas supplies and reduce the need for LNG imports.
Mr. Carne added, “We don't just bring technology. We bring skills transfer and we bring people development. But we are also proud that KOC has developed a new way of working with Shell that will allow us to bring our technology and ways of working to support their gas growth plans.”