Rystad Energy: global gas production achieved highest growth in a decade in 2018
Published by Aimee Knight,
“Year-on-year growth was clearly driven by North America, which accounted for 71 billion m3, followed by the Middle East with 39 billion m3. Europe was the only region that experienced a reduction in 2018,” Rystad Energy partner Espen Erlingsen said.
Rystad Energy forecasts the supply surge will continue in the coming years. Expected average annual growth from 2018 to 2021 is 115 billion m3, which would outpace the average annual growth from 2011 to 2017 by 90%.
“Going forward, global growth will be driven primarily by North American gas, which is going through an LNG development phase,” Erlingsen added.
Rystad Energy, the independent energy research and consulting firm headquartered in Norway with offices across the globe, expects that US gas production will reach almost 1000 billion m3 per day (94 billion ft3/d) by 2025.
The weakest global annual growth was observed in the 2015-2016 cycle, when global gas output grew by only 12 billion m3. This was also the only period in which North America experienced a year-on-year reduction in gas production growth.
Read the article online at: https://www.oilfieldtechnology.com/special-reports/18012019/rystad-energy-global-gas-production-achieved-highest-growth-in-a-decade-in-2018/
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