Slava Kiryushin, Global Head of Energy at DWF shares his views on the gas crunch that threatens industry in UK, Europe, and other parts of the world.
According to GlobalData, the US and Canada could see a 12% growth in natural gas production, while Mexico could suffer a 28% decline in domestic natural gas production from 2021 to 2025.
The U.S. Energy Information Administration’s August 2021 Short-Term Energy Outlook estimates that LNG exports will overtake pipeline exports by 0.6 billion ft3/d this year.
EIA discusses the Global LNG market in 2020 and ‘The LNG Industry: GIIGNL Annual Report 2021’ released by the International Group of Liquefied Natural Gas Importers.
Despite this, the company’s report also states that strong demand has meant record exports for the country.
According to the EIA, both natural gas consumption by the US electric power sector and natural gas exports reached record highs in 2020.
The agreement states that a cumulative supply of more than 3 million t of LNG will be supplied to Chinese LNG terminals for a period of 15 years.