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Shell sings praises of natural gas

Published: Oct. 12, 2010 at 10:00 AM

LONDON, Oct. 12 (UPI) — British concerns about natural gas imports are overblown as new supplies are creating a gas revolution, an executive from Royal Dutch Shell said in London.

The United Kingdom relies on natural gas imports for a portion of its energy needs as reserves in the North Sea run dry.

Shell Chief Executive Officer Peter Voser told delegates an energy conference Tuesday in London there are “spectacular” improvements in the natural gas sector.

“It’s not an exaggeration to call what has happened a supply-revolution,” he said.

He said emerging gas developments in Australia and Qatar play a “prominent” role in his company’s gas portfolio, while gas from North America is expected to double within the next five years.

The International Energy Agency, he said, estimates there is enough recoverable gas in the ground to feed the world’s energy needs for 250 years at current production rates.

Voser said that with the shale gas explosion in North America and new developments in liquefied natural gas, governments and investors can move forward with the knowledge that natural gas is around for the long term.

“Concerns in this country about over-dependence on imported natural gas are understandable but not valid,” he said.

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