Current weak demand for gas may persist into 2010, but Qatar liquefied natural gas is well positioned to deal with the situation, ExxonMobil Corporation Chairman and CEO said.

In his keynote speech to the Doha 7th Doha Natural Gas conference yesterday, Rex W. Tillerson said: “In the current weak global economy, the challenge to achieve best value for competing LNG supplies will require the same close cooperation and commitment to stable policies that has underpinned earlier success in Qatar.”

“While these weak demand conditions may persist well into 2010, Qatar LNG is well positioned to deal with the current weak demand environment due to its low cost supplier position and connections to markets the world over due to Qatar’s favorable supply chain and logistics position,” said Tillerson.

He said in the decades to come, Qatar will continue to be a center of the international LNG market and a leader in supplying energy to fuel the world’s economic growth. Tillerson also pointed out that despite the current economic downturn global energy demand is expected to be about 35 percent higher in the year 2030 than it is today. Much of this increase will come from developing countries as growing populations seek higher standards of living.

(Peninsula & Zawya)