CEDIGAZ has released its ‘Medium and Long Term Natural Gas Outlook 2019’.
Cedigaz’s 2019 outlook highlights that natural gas has a crucial role to play to support the energy transition and meet all targets of the NDCs. The future expansion of natural gas in the energy mix is driven by the competitiveness and abundance of gas resources in gas-rich markets (North America, Russia, Middle East, Mozambique), which will expand LNG export capabilities. Positive developments of unconventional gas, especially in the US, and LNG markets will continue to reshape natural gas supplies.
- Natural gas demand grows by 40% from 2017 to 2040 (+1.4%/year), with Asia leading the growth. Projections on gas demand in most of emerging Asian markets have been revised upward compared to the previous outlook.
- International LNG trade will grow by more than 3%/year to 2040 and long-distance (interregional) LNG trade will grow the fastest (+4.9%/year), driven by Asia. The share of LNG in net interregional gas trade will progress from 39% in 2017 to 60% in 2040.
- The US is forecast to lead the global expansion of gas and LNG supply and will play a growing influence on the global gas balance and international pricing.
- Operating and under construction LNG liquefaction plants will be sufficient to cover the anticipated LNG demand until 2022.
The LNG market should remain well-supplied until at least the middle of the next decade assuming likely additional FIDs (including Qatar expansion projects) in the near future.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/07082019/cedigaz-releases-its-natural-gas-outlook-2019/