Baku, Azerbaijan, Jan.30
By Leman Zeynalova – Trend:
A wave of liquefied natural gas (LNG) is the catalyst for a second natural gas revolution, said executive director of the International Energy Agency (IEA) Fatih Birol.
He made the remarks during GE Oil and Gas annual meeting which kicked off in Italy’s Florence on Jan.30, according to the event’s official Twitter page.
Birol noted that IEA doesn’t expect the oil demand to peak any time soon due to rising consumption in developing economies.
He added that oil markets could enter a period of high volatility unless companies develop new projects after two years of sharp drops in investments sparked by low oil prices.
“We have no control on oil prices. We need to focus on what we can control, improving operational performance and production efficiency,” said Arnaud Breuilla, President of Exploration and Production at France’s Total company,
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