Middle East natural gas reserves boost to GTL industry

Feb 19, 2002 01:00 AM

The huge Middle East natural gas reserves, specifically in Iran and Qatar, have encouraged international companies to develop GTL (gas to liquid) factories in this region. The managing director of an international company, Narges Qorban, on the second day of the Seminar on Middle East Energy Strategy up to 2014, said, "It seems that the first half of the 21st century will be the natural gas era."

The rapid rise in the global demand for natural gas has continued in the last decade. Based on the latest estimates of the International Energy Agency, demand for natural gas will double by 2020. The demand for oil and coal will increase by 60 and 38 % respectively in this period, the agency said.
Qorban noted that the production of valuable oil products from natural gas is one of the suitable alternatives for earning revenue from natural gas resources. She said that high investment costs and low crude oil prices have been the main obstacles in the way of developing GTL technology in the past.
"Although investment costs have decreased following development of new technologies and oil prices have considerably increased in the past two years, it is predicted that oil prices will remain steady at about $ 20 per barrel for some time," Qorban added.

Source: Tehran Times
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