Total SA sees natural gas demand far outpacing oil

PARIS, June 26 (Reuters): French oil and gas company Total SA expects the global natural gas market to grow far faster than that for crude oil over the next two decades thanks to booming demand for the cleaner-burning fuel in Asia, an outlook that underpinned Total's recent big investments in the space, Chief Executive Patrick Pouyanne said on Monday.

Total expects to close a $1.5 billion acquisition of Engie SA's liquefied natural gas assets in July, making it the second biggest producer of the super-cooled gas in the world behind Royal Dutch Shell Plc.

Total's numbers differ from those of the US EIA, which predicts global natural gas growth to average 1.5 per cent per year between now and 2050, versus 0.7 per cent for crude oil.