(Bloomberg) -- The world may need an investment of as much as $200 billion in new liquefied natural gas terminals by 2025 to satisfy a growing appetite for cleaner-burning fuels, according to Bechtel Group Inc.
Even under a moderate-growth scenario, global LNG demand will climb by 15 million metric tons a year, Bechtel Chief Executive Officer Brendan Bechtel said in an interview on Tuesday in Riyadh, where the engineering firm is celebrating its 75th anniversary of doing business in Saudi Arabia. Between 70 and 160 million new tons of supply that aren't yet slated for construction could be built by 2030, he said.
Bechtel is a top LNG contractor, having built 41 plants in 10 countries, according to its website. Last month, the company announced a $50 million investment in Tellurian Inc., a would-be U.S. gas exporter. Tellurian has proposed the Driftwood LNG terminal in Louisiana, a project that could enter service in 2023.
“Our long-term view is that gas is the prince of hydrocarbons,” Bechtel said. “It's hyper-flexible, it's relatively clean” and “it's a great transition fuel as the energy mix around the world transitions toward more carbon-free sources.”
To contact the reporters on this story: Ryan Collins in Houston at rcollins74@bloomberg.net, Vivian Nereim in Riyadh at vnereim@bloomberg.net.
To contact the editors responsible for this story: Reg Gale at rgale5@bloomberg.net, Joe Carroll
©2018 Bloomberg L.P.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
