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FINANCIAL NEWS
Gas to account for 50% of ME’s energy demand in 2040: Deloitte
30 May 2013
(MENAFN) Deloitte’s ‘Middle East Energy and Resources: Managing scarcity for the future’ report shows that in 2040, 50 percent of the region’s total energy demand will come from gas, reported Gulf Daily News.
It reveals that countries of the GCC, mainly the UAE, Qatar and Saudi Arabia, plan to grant an excess of USD68 billion worth of contracts during the coming 5 years to boost gas output.
Globally, oil and gas will make up nearly 60 percent of energy demand in 2040, compared with 55 percent in 2010.
However, oil and gas will not be the only sources of energy, as alternative energy sources, including nuclear, wind, solar and biofuel, will also play a major role in meeting the world’s energy demand in the future.
The paper noted that the energy industry is facing several challenges, mainly skills shortages, with students across the Middle East choosing to work in businesses outside technology, physical sciences and technical process industries.
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