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Oil companies are betting on gas as the future

Big oil companies hope to find buyers in Asia, where energy demand is soaring

International oil companies (IOCs) are betting big on gas, particularly on capital-intensive liquefied natural gas (LNG) schemes that they hope will find buyers in Asia, where energy demand is soaring. But the rapid rise of clean-technology energy systems and fuels could snatch away potential new markets, especially in developing economies. For Big Oil, gas represents the future. It’s the cleanest burning fossil fuel, making it more politically acceptable as climate change rises up the global agenda. It could help keep a lid on global warming, especially if it kills off coal, the most carbon intense fossil fuel. And it’s affordable for power generation, especially when compared to oil, say

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