Vitol sees gas and LNG as key growth driver as oil demand peak looms

LONDON, May 10 (Reuters) - Vitol’s future growth will increasingly be driven by gas and liquefied natural gas (LNG), especially in emerging markets, as peak oil demand approaches, its head of gas and power investments said on Thursday.

Steven Brann said that LNG and gas, coupled with related asset acquisitions, will offer the best growth opportunities for Vitol as the world moves towards cleaner-burning fuels and oil demand peaks in the next decade.

“Our portfolio as a company will increasingly be gassy and asset-heavy and LNG is a means of moving that gas around the world,” Brann said.

“Africa is important and LNG in and around Africa is an important part of our growth strategy.”

Reporting by Oleg Vukmanovic and Julia Payne Editing by David Goodman