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Monday, 26 April 2010

Shell says Middle East needs to solve gas puzzle | Reuters


The Middle East needs to solve the conundrum which sees it sitting on 40 percent of the world's gas reserves and yet suffering from a supply shortage, a senior executive from Royal Dutch Shell (RDSa.L) said on Monday.

Natural gas demand in the region was growing at such a rate that by 2015, total consumption in the Middle East would be close to that in major European economies, Malcolm Brinded, Shell's executive director for international upstream said in a speech at an industry event.

Middle East gas demand was rising at around 5 percent per year, a similar rate to growth in China, he said.