Natural gas forecast 2020, 2021 and 2022 long forecast. The world energy outlook 2018 examines future patterns of a changing global energy system at a time of increasing uncertainties and finds that major transformations are underway for the global energy sector, from growing electrification to the expansion of renewables, upheavals in oil production and globalisation of natural gas markets. Natural gas natural gas consumption rose by 195 billion cubic metres bcm, or 5. To perform this analysis, eia updated the ieo2017 reference case with new macroeconomic information and varied macroeconomic. Aug 14, 2019 the longterm fundamental outlook for natural gas production growth in the us and global gas demand remain strong and are driven by the industrial sector and coalto gas switching. Government is working with all stakeholders to meet the takeorpay obligations enshrined in the contract. The gas industrys future looks bright over next five.
Our 2019 outlook, like the 2018 outlook, includes a section, pursuing a. For each year reported, estimates are given for the latent demand, or potential industry earnings p. Webcast the outlook for the global gas industry january 18, 2018 news by wgc 2018 on january 16, leslie paltiguzman, director of global gas, rapidan energy group and fellow at the center on global energy policy and jay copan, executive director, 27th world gas conference 2018 held a webcast for the financial community. January 2018 european gas market outlook 2018 this year, several large natural gas projects with the potential to reshape the trading landscape are due to take place, including two market mergers. John england opec may be running out of cards natural gasthe fuel of the future the rise of natural gas demand continued during 2017, but it was overshadowed by continued lowcost supply growth from a number of regions, such as the united states, causing global pricing to remain relatively low. Eia forecasts that natural gas storage levels will total 3,792 bcf by the end of october, which is 2% above the fiveyear average and 17% above october 2018 levels. This report reprints in full the special section of the weo2017 covering the outlook for natural gas, which consists of four chapters chapters 8. The 20182023 world outlook for inset lfe natural gas. A balance sheet as at 2018, including a note listing the qualifying instruments, of the gpfs. By the week ending september 27, working gas inventories reached 3,317 billion cubic feet bcf, within 1%, of the fiveyear average. Outlook for natural gas supply and demand for 2017 2018 winter.
Global natural gas production world gas natural statistics. While things may be looking up for oil investors, natural gas investors. The global boom in natural gas demand is about to slow. The future of natural gas after a winterrelated rally in february 2014, the price of natural gas fell to levels not seen since 1998. The latest trends in energy and emissions in 2018 download.
Energy information administration office of energy analysis u. Historically, natural gas also has been one of the most economical energy sources. Gas 2018, the latest iea annual market report, assesses these trends and provides a detailed analysis of supply and trade developments, infrastructure investments, and demandgrowth forecast through 2023. The outlook for natural gas demand in europe oxford institute for. Natural gas prices soar to 9year highs as cold forecast bites. Europe cis north america latin america asia pacific africa middleeast. Oil prices have drifted higher in the second half of 2017 on news that opec extended its production cut agreement into 2018. By fuel, energy consumption growth was driven by natural gas, which contributed more than 40% of the increase. The outlook for energy is exxonmobils view of energy demand and supply through 2040. Webcast the outlook for the global gas industry wgc 2018. The peoples republic of china hereafter, china becomes the worlds leading importer of natural gas.
The price of natural gas is usually higher in the winter and trends lower in the warmer months because its primary use is as an energy. The energy outlook is produced to aid bps analysis and decision making, and is. The 2018 annual report on the petroleum funds covers january to september. In south korea, the 8th basic plan for energy prioritises renewables and gas, while not sanctioning new nuclear and coal. For many years the outlook for energy has helped inform exxonmobil s longterm business strategies, investment plans, and research programs. Annual energy outlook 2020 energy information administration. It is a particularly difficult time to work on natural gas demand scenarios. The advantages of natural gas include its efficiency, abundance, and versatility. Natural gas inventories are low heading into the highdemand season, yet natural gas prices do not reflect the possibility of tight supplies this winter. Natural gas prices remain comparatively low based on historical prices during the projection period. Nov 19, 2018 natural gas is a tough market to call in the short term, he said. Heres a breakdown of our natural gas consumption over the last few years. Outlook for natural gas supply and demand for 20172018 winter.
Chart data can be accessed by rightclicking the chart in the ppt file. The ggo aims to be a global reference for insights on natural gas markets and offers a view on natural gas market drivers, evolution and predictions to help envisioning the world energy future over the 2050 forecast horizon. On analysis of the movement of natural gas futures on september 29th, 2018, in different time frames, in the same chart which i noted in my last analysis, ive found the following trading zones. The aeo is developed using the national energy modeling system nems, an integrated model that. Europe and selected countries, in constant prices, 20002018 forecast from 20. Chart expected trading zones for december 31st, 2018 natural gas futures 15 minutes chart expected trading zones for december 31st, 2018 disclaimer. The main part of the book concentrates on oecd countries, showing a detailed supply and demand balance for each country and for the three oecd regions. In a nutshell, the price of oil will be influenced by crude oil inventories, which are. Energy information administration of the outlook for energy markets through 2050. The only energy outlook worldwide to focus solely on natural gas. Natural gas markets were flat again on friday after going back and forth in general.
The outlook for natural gas and lng in china in the war against air. Impact of policies supply and demand trends 2 the total length of the worlds natural gas pipelines would stretch. Natural gas natural gas consumption rose by 96 billion cubic metres bcm, or 3%, the fastest since 2010. While things may be looking up for oil investors, natural gas. The gas industrys future looks bright over next five years, according to iea analysis 26 june 2018 strong demand growth from china, greater industrial demand, and rising supplies from the united states, will transform global natural gas markets over the next five years according to the international energy agencys latest market forecast. The outlook for energy is exxonmobil s latest view of energy demand and supply through 2040. For net natural gas exports, the eia is forecasting 4. Oil and natural gas make up about 55 percent of global energy use. Discover the outlook for the global supply and demand horizon, improve efficiency and pinpoint specific opportunities with seamless data and analysis of oil and gas markets.
Natural gas prices shot through the roof on wednesday as weather forecasts called for an increasingly cold winter in what is looking like a tightly supplied market. Weather forecasts can bring public speculators to the market in mass, causing wild daily fluctuations, especially during the. Natural gas distribution company statistical data 27 vii. In the previous post fear will drive oil prices in 2018 i discussed the outlook for oil prices next year. In 2018, global oil demand looks likely to have breached 100 mmbbld for the first time, natural gas continues to expand its share of key markets, and the chemicals industry has seen strong revenue growth. The occupational outlook handbook is the governments premier source of career guidance featuring hundreds of occupationssuch as carpenters, teachers, and veterinarians. Amid the current geopolitical global scenario, i expect the following trading zones for natural gas futures for the week of july 22nd, 2018. Ng00 natural gas continuous contract overview marketwatch. Oil prices are probably headed higher in 2018, but higher oil production is likely to keep a lid on natural gas prices next year. The reality is that gaining access to information in todays world is easy, but developing an action plan can still be frustrating and time consuming. The knockon effects of low natural gas prices for mlps and. World energy outlook 2018 examines future patterns of global. Please do not use email to report an odor for immediate assistance or if you have received an urgent notice, please call 8004224012.
Electricity is the special focus of the 2018 edition. Natural gas distribution company financial statistics 37 ix. John england opec may be running out of cards natural gas the fuel of the future the rise of natural gas demand continued during 2017, but it was overshadowed by continued lowcost supply growth from a number of regions, such as the united states, causing global pricing to remain relatively low. World energy outlook 2018 examines future patterns of. Nov 30, 2017 oil prices are probably headed higher in 2018, but higher oil production is likely to keep a lid on natural gas prices next year. Browse short and longterm oil forecasts, as well as natural gas outlook reports at wood mackenzie.
Growth in gas consumption was driven mainly by the us 78 bcm, supported by china 43 bcm, russia 23 bcm and iran 16 bcm. This report reprints in full the special section of the weo2017 covering the outlook for natural gas, which consists of four chapters chapters 811 of the full edition. Natural gas price outlook last week, the eia issued its latest shortterm energy outlook report on april 10, outlining the price outlook for natural gas in the rest of 2018 and 2019. Natural gas outlook for 2018 oil prices are probably headed higher in 2018, but higher oil production is likely to keep a lid on natural gas prices next year. Pdf the 2018 gecf global gas outlook highlights key challenges and opportunities for major gas exporting countries. Fracking technology and huge discoveries of the energy commodity in the marcellus and utica shale regions of the u. Jan 14, 2012 natural gas consumption in the asia pacific region 2018, by country industrial natural gas sales unit price in canada 20002015 natural gas production in malaysia 2006 2018. Annual energy outlook 2018 with projections to 2050 february 2018 u. Natural gas production, consumption, reserves, and prices 15 vi. Jan 27, 2019 according to the eia, in 2018, natural gas powered electric generation accounted for 34 percent of the nations electric capacity with that figure projected to grow to 39 percent by 2050.
Natural gas distribution company gas supply and demand balance 2016 32 section 3 financial data viii. Africa energy outlook 2019 world energy outlook special report. Pdf 2018 edition of the gecf global gas outlook 2040. After declining in 2016 for the first time in 11 years, natural gas production rose 1. Executive summary gas market report 2018 3 executive summary three major transformations are set to shape the evolution of global natural gas markets in the next five years, setting the scene for this gas 2018 market outlook. Now, the oil and gas industry is entering the new year with increased volatility in.
World energy outlook 2018 examines future patterns of global energy system at a time of increasing uncertainties november 2018 major transformations are underway for the global energy sector, from growing electrification to the expansion of renewables, upheavals in oil production and globalization of natural gas markets. Consumption growth was driven by china 31 bcm, the middle east 28 bcm and europe 26 bcm. Of the fossil fuels, natural gas and ngpls have the highest production growth, and ngpls account for almost onethird of cumulative u. Surge in us gas production, accounting for 45% of the global increase. Members of the gas exporting countries forum can log into the website to access extra content. Southeast asia energy outlook 2019 world energy outlook special report. In china, the th five year plan targeted 350380 billion cubic metres of gas demand by 2020. Revised annually, the latest version contains employment projections for the 201828 decade. On analysis of the volatile moves of the natural gas futures during the week ended april th, 2018 as i mentioned in my two last analyses on april 11th, and on april 12th, 2018 and result was. Document global gas demand longterm outlook h1 2018. Dec 14, 2017 oil prices have drifted higher in the second half of 2017 on news that opec extended its production cut agreement into 2018. Please call us to report a natural gas odor at 8008823377.
Natural gas is the cleanest burning conventional fuel, producing lower levels of greenhouse gas emissions than the heavier hydrocarbon fuels, like coal and oil. Department of energy washington, dc 20585 this publication is on the web at. Five oil and gas industry and chemicals industry trends. Natural gas outlook for nitrogen fertilizers market realist. This study covers the world outlook for inset lfe natural gas space heaters across more than 190 countries.
This years report also provides information on the status of implementation of abfafunded projects from january to september 2018, as required by section 48 of the prma. The book on incentives for generation of electricity from res and. The sankofagye nyame field produced its first gas in late october 2018. How shale oil and gas is driving us refining and petrochemical investment. Global ev outlook 2019 scaling up the transition to electric mobility. Natural gas prices remain relatively low compared to historic values john j. Drawing on the latest data on energy markets and technology trends, this years world energy outlook the gold standard of longterm energy analysis provides detailed analyses of these fundamental issues to 2040, covering all fuels, technologies and regions. Aug 05, 2018 natural gas inventories are low heading into the highdemand season, yet natural gas prices do not reflect the possibility of tight supplies this winter. Eva executive summary while the forthcoming winter is expected to be close to normal, total consumption, weather which is the combination of demand and exports, will be at record high and even exceed the a. The mood music at yearend 2018 was increasingly gloomy, as economic and political factors spook oil and gas markets. This will make gas available for power production, forestalling the return of the dumsor era. We expect 2018 to show continued production increases, as platts is forecasting 8. This video explains what lng could mean for the canadian economy and global greenhouse gas reductions.
Global natural gas production increased by 1 bcm, or 4%, almost. The price in us dollars per mmbtu 1 million british thermal unit. Although eia forecasts dry natural gas production will average 94. Eias international energy outlook 2018 ieo2018 focuses on how different drivers of macroeconomic growth may affect international energy markets in three heavily populated and high economic growth regions of the world. The report analyses the main changes that will likely transform the natural gas market, including market reforms that shape supply and demand. In 2018, alberta produced 69% of the marketable natural gas in canada. All fuels grew faster than their 10year averages, apart from renewables, although renewables. Natural gas outlook is a suite of publications and website reports that cohesively work together to help businesses make informed natural gas buying decisions. Natural gas electricity generation transportation buildings industrial references 4.
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