Speaking at the third summit of Gas Exporting Countries Forum (GECF) on Monday, Abdalla Salem el-Badri deemed natural gas as a factor of stability in different parts of the world adding “along with the increase in the world’s population, demands for energy consumptions are increasing in many countries as well.”
Abdalla Salem el-Badri noted the significant increase in the demand for oil and gas until 2040; “it has been estimated that by the year 2040, crude oil and natural gas will provide 50% of the world's needs,” he stressed.
The official underlined that a significant portion of the energy demand will require new investments especially in the countries possessing oil and gas reserves and continued “on the basis of estimations, new investments worth about 10 trillion dollars must be done in the world’s oil and gas industries until 2040.”
