Australia's WorleyParsons sees growth opportunities in gas sector

: "SINGAPORE: One of Australia's largest energy consultancy and engineering services firms WorleyParsons has big plans for its Singapore office.

It says the world is increasingly moving away from using oil and towards using gas to generate power and heat.

With growing demand in Asia for gas pipelines, infrastructure and power facilities, WorleyParsons aims to boost its ability to lead, manage and bid for international projects out of Singapore.

The company was awarded its international headquarters status in Singapore on Monday.

WorleyParsons designs and builds oil and gas terminals, storage facilities, as well as pipelines under the sea.

It says it is seeing a shift from transporting oil products to liquid and gaseous products, as the world's oil supply depletes, and it believes it can capture growth in the gas market from Singapore.

'The world's oil discoveries are slowing down to the point where we may have reached what is referred to as the 'peak oil.' And naturally, people are switching to a very plentiful gas feedstock around the world. Singapore can play a regional role in the trading of gas and also in the financing and project management of gas projects. We want to ride that wave of business - the exports of gas from gas-rich regions and the import of gas to the energy deficient regions, many of which of course are here in Asia,' said Graham Hill, Executive Director, Asia Business Development, WorleyParsons.

The company says the global pipeline market is seeing a capital investment of US$20b a year and is growing at 30 percent annually.

Among projects in the gas sector, it is eyeing Singapore's Liquefied-Natural-Gas or LNG terminal, which is slated to be ready in 6 years.

'WorleyPar"