Texas. At a recent Cambridge Energy Research Associates conference, Exxon executive Tom Walters made it unflinchingly clear that his company believes natural gas is in for a long-term growth phase in North America.
Rig Zone:
Walters joined a group of industry leaders to address a global gas plenary on "The Role of Natural Gas in the Future Energy Mix." He noted that despite the effects of the recent economic downturn, the long-term outlook for natural gas is positive. "We expect global energy demand to increase nearly 30 percent in the next 20 years. By 2030, global gas demand will be around 140 billion cubic feet per day higher than 2009," he said.
For anyone investing in the space, it's good to see large energy names like Exxon betting on North American natural gas alongside you.
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No doubt, Natural Gas Combined Cycle plants are the highest efficiency, cleanest and lowest capital cost power plants.
But,in the present and foreseeable future scenario, the high and volatile price of natural gas makes them unattractive!!
Regards,
NVM