DOHA, Qatar – A 65% increase in energy demand by 2040 among developing nations will reflect growth in prosperity and economic expansion, said Bart Cahir, president, ExxonMobil Qatar. Cahir was one of the keynote speakers at the 2013 Offshore Middle East Conference & Exhibition which runs through Jan. 23 in Doha.
Economic growth will drive demand for electricity generation, which will account for more than half of the increase in global energy demand over the same time span.
In citing ExxonMobil’s Global Energy Outlook, Cahir said energy efficiency will be key to meeting future supply challenges and that while oil would be the fuel in most demand, natural gas would pass coal as the second most used energy source.
In meeting this gas demand, Cahir said ExxonMobil’s partnership with Qatar Petroleum has enabled the country to create an industry and to open gas markets worldwide.
“This…demonstrates a bright future (for the oil and gas business) but also shows the enormous duty we have as an industry,” Cahir told the conference.