En
Ar
  • Home
  • Oil Demand to Hold Above 100 Million BPD Through 2040, Says ADNOC CEO
The head of Abu Dhabi National Oil Company (ADNOC) said global oil demand will remain above 100 million barrels per day through 2040, while demand for both liquefied natural gas (LNG) and electricity will grow by 50% or more. Managing Director and CEO Sultan Ahmed Al Jaber told the India Energy Week conference on Tuesday that electricity demand will be driven by the need to power cooling systems as well as AI infrastructure and data centres. In January, India signed a $3 billion deal to buy LNG from the United Arab Emirates, making it the UAE's top customer.  The agreement will have ADNOC Gas supply 0.5 million metric tons of LNG annually to India’s Hindustan Petroleum Corp. over a 10-year period starting in 2028.

Oil Demand to Hold Above 100 Million BPD Through 2040, Says ADNOC CEO

< 1 minute read

The head of Abu Dhabi National Oil Company (ADNOC) said global oil demand will remain above 100 million barrels per day through 2040, while demand for both liquefied natural gas (LNG) and electricity will grow by 50% or more. Managing Director and CEO Sultan Ahmed Al Jaber told the India Energy Week conference on Tuesday that electricity demand will be driven by the need to power cooling systems as well as AI infrastructure and data centres. In January, India signed a $3 billion deal to buy LNG from the United Arab Emirates, making it the UAE’s top customer.  The agreement will have ADNOC Gas supply 0.5 million metric tons of LNG annually to India’s Hindustan Petroleum Corp. over a 10-year period starting in 2028.

Issue:
Country:

Related Articles From

Subscribe to Receive Latest Updates from GIF.