From a story linked earlier today:
The latest Wood Mackenzie "Global Gas Markets long-term Outlook 2018: LNG Supply" authored by Giles Farrer, expects that capital spending on LNG plants and upstream infrastructure will total more than $200 billion from 2019 to 2025, to be shared by Canada, Mozambique, Qatar and the U.S., which is scheduled to see a flood of shale gas development. Industry experts maintain that rising world demand for LNG will require the sanctioning of around 60 million tonnes of new gasification facilities by 2020 and a further 100-plus million tonnes between 2020 and 2025 to ensure that markets in such countries as China, India and Pakistan are adequately supplied. Wood Mackenzie global LNG supply research director Giles Farrer said, “The LNG boom is back”.What's that about Mozambique, of which I always forget:
In Southern Africa, Exxon is involved with Eni to develop an $11.2-billion LNG export facility to capitalize on Mozambique’s Rovuma basin which is estimated to contain a massive 85 trillion cubic feet of gas.From the 2019 BP statistical review:
- 2018 was a bonanza year for natural gas, with both global consumption and production increasing by over 5%, one of the strongest growth rates in either gas demand or output for over 30 years
- Natural gas consumption rose by 195 billion cubic metres (bcm), or 5.3%, one of the fastest rates of growth since 1984.
- Growth in gas consumption was driven mainly by the US (78 bcm), supported by China (43 bcm), Russia (23 bcm) and Iran (16 Bcm).
- Global natural gas production increased by 190 bcm, or 5.2%. Almost half of this came from the US (86 bcm), which (as with oil production) recorded the largest annual growth seen by any country in history. Russia (34 bcm), Iran (19 bcm) and Australia (17 bcm) were the next largest contributions to growth.
- Growth in inter-regional natural gas trade was 39 bcm or 4.3%, more than double the 10-year average, driven largely by continuing rapid expansion in liquefied natural gas (LNG).
- LNG supply growth came mainly from Australia (15 bcm), the US (11 bcm) and Russia (9 bcm). China accounted for around half of the increase in imports (21 bcm).
Mozambique, with 85 trillion cubic feet, is not even listed by BP. Say what?
By the way, a great op-ed from Bloomberg regarding BP's 2019 statistical review.