07 March 2017
Under the patronage of the President of the Council of Ministers H.E. Saad Hariri, Front Page Communication organized an important Oil and Gas forum entitled “Roadmap.” H.E. Abdullah Bin Hamad Al-Attiyah, the President of The Abdullah Bin Hamad Al-Attiyah International Foundation for Energy & Sustainable Development, was invited to give the honorary speech on “Overview on Global Gas Markets”, In his Speech, His Excellency emphasized the fact that the world holds abundant resources of natural gas, which are currently estimated at more than five hundred trillion cubic meters. Lebanon is believed to hold one trillion cubic meters. At current global consumption levels, the proven reserves are sufficient to meet the demand for the next 60 years. This could stretch to 150 years based on total estimated gas resources. His Excellency Abdullah Bin Hamad Al-Attiyah highlighted also a number of threats and challenges related to the development of the global gas market, including, the evolution of the unconventional gas that is expected to represent 30% of the global gas production by 2040, and the trend of global gas demand growth estimated to be in range between 1.5 to 2%, as well as the massive expansion of the LNG export capacity which at this time exceeds a much weaker than expected demand. At the end of his speech, H.E. Abdullah Bin Hamad Al-Attiyah concluded that the global gas market challenges are converging towards a new competitive landscape, which will require all market players to smartly adapt and innovate. The Lebanon’s National Wealth Forum was held at the ESA campus on Thursday, 7 March with a wide panel of international key speakers, Lebanese politicians, energy and economic sector key players, specialized press, and representatives of the country’s civil society and students.