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Experts expect big shift in global energy landscape


08:40, November 14, 2012

ABU DHABI, Nov. 13 (Xinhua) -- News released at the ongoing energy congress ADIPEC signal a booming fossil fuel industry in the region and a major global shift which might change the oil and gas industry's landscape for good.

With 1,600 exhibitors and 13 national pavilions, the ongoing Abu Dhabi International Petroleum Exhibition and Conference ( ADIPEC), which began Sunday, is the largest oil and gas congress in the Middle East. However, the upbeat mood overshadowed by the International Energy Agency's (IEA) World Energy Outlook released Monday which said that the U.S. will overtake Saudi Arabia as the world's largest oil producer by 2020.

The IEA outlook feeds into the idea of a shift in the center of influence in the world oil market, said Gareth Lewis-Davies, an analyst at BNP Paribas SA in London in an interview.

On Sunday, T.D. Williamson, a world leader in pipeline services and equipment, signed at the ADIPEC a global pipeline intervention and isolation services contract with British oil giant BP. Both sides did not disclose the price. Abu Dhabi's Dolphin Energy said Monday it awarded a contract worth 250 million U.S. dollars to India's Larsen & Toubro to upgrade a gas plant in Qatar. Abu Dhabi Gas Industries, known as GASCO, said it would deliver a major announcement on Wednesday.

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