Moscow:Doha HE Secretary General of the Gas Exporting Countries Forum (GECF), Dr. Philip Mshelbila, emphasized Qatar's crucial role in the global liquefied natural gas (LNG) market, stating that the nation is a key strategic partner in shaping the future of the energy sector. Qatar's expansion plans are significantly contributing to enhancing global supply security.

According to Qatar News Agency, Dr. Mshelbila made these comments on the sidelines of the 8th Summit of Heads of State and Government of the Gas Exporting Countries Forum (GECF), held in Moscow, Russia. He noted the importance of Qatar's participation in the summit and expressed appreciation for Doha's support of the GECF, including hosting the forum's headquarters.

Dr. Mshelbila highlighted the need for approximately USD 12 trillion in investments over the next thirty years to meet the rising global demand for natural gas, which is expected to increase by 31 percent. He stressed the importance of new production sources and projects, as about 80 percent of future gas production will need to come from these due to the natural decline in existing fields.

The forum projects a rise in global gas demand to about 5.417 trillion cubic meters by 2055, increasing its share in the primary energy mix to 26 percent. The Asia-Pacific region is expected to account for 43 percent of this growth, followed by the Middle East with 23 percent. Dr. Mshelbila also emphasized natural gas's enduring role in the global energy system, not just as a transitional source, but as a long-term component supporting renewables and meeting demands of data centers and AI applications.

In his concluding remarks, Dr. Mshelbila stressed the importance of developing emissions reduction and carbon capture technologies and highlighted the growing significance of dialogue and cooperation between producing and consuming nations amidst uncertainty in global energy markets.