The Development of Middle-East Natural Gas Markets
DOI:
https://doi.org/10.15173/esr.v10i1.427Abstract
In the beginning of the 2000s, natural gas continues to be the fastest growing primary source of energy. Abundant reserves, competitive prices and environmental advantages over the other hydrocarbon fuels ensure strong market growth for natural gas. According to the United States Department of Energy the world natural gas consumption is projected to grow by 3.1 percent from 2000 to 2020, while oil consumption will grow by 1.9 percent and coal 1.6 percent.' Most remarkably, world proven reserves of gas increased by 31 percent, despite the production of nearly 23 trillion cubic meters over the past ten years." The growth in world gas reserves has come mainly from two areas - the former Soviet Union and the Middle East.
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