Natural gas natural gas consumption rose by 96 billion cubic metres bcm, or 3%, the fastest since 2010. The outlook for natural gas and lng in china in the war against air. In south korea, the 8th basic plan for energy prioritises renewables and gas, while not sanctioning new nuclear and coal. Natural gas prices remain comparatively low based on historical prices during the projection period. The aeo is developed using the national energy modeling system nems, an integrated model that. The outlook for energy is exxonmobils view of energy demand and supply through 2040. 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. The only energy outlook worldwide to focus solely on natural gas. Natural gas prices remain relatively low compared to historic values john j. 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. For many years the outlook for energy has helped inform exxonmobil s longterm business strategies, investment plans, and research programs. For net natural gas exports, the eia is forecasting 4. Five oil and gas industry and chemicals industry trends.
Natural gas markets were flat again on friday after going back and forth in general. Chart data can be accessed by rightclicking the chart in the ppt file. Of the fossil fuels, natural gas and ngpls have the highest production growth, and ngpls account for almost onethird of cumulative u. 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. Consumption growth was driven by china 31 bcm, the middle east 28 bcm and europe 26 bcm. 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. By the week ending september 27, working gas inventories reached 3,317 billion cubic feet bcf, within 1%, of the fiveyear average.
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. Global ev outlook 2019 scaling up the transition to electric mobility. In china, the th five year plan targeted 350380 billion cubic metres of gas demand by 2020. This will make gas available for power production, forestalling the return of the dumsor era. Global natural gas production increased by 1 bcm, or 4%, almost. Electricity is the special focus of the 2018 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. 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. Oil prices are probably headed higher in 2018, but higher oil production is likely to keep a lid on natural gas prices next year. Amid the current geopolitical global scenario, i expect the following trading zones for natural gas futures for the week of july 22nd, 2018.
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. Now, the oil and gas industry is entering the new year with increased volatility in. The outlook for natural gas demand in europe oxford institute for. We expect 2018 to show continued production increases, as platts is forecasting 8. Annual energy outlook 2018 with projections to 2050 february 2018 u. 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 distribution company statistical data 27 vii. 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. Impact of policies supply and demand trends 2 the total length of the worlds natural gas pipelines would stretch. Webcast the outlook for the global gas industry wgc 2018. Natural gas prices soar to 9year highs as cold forecast bites. Natural gas outlook is a suite of publications and website reports that cohesively work together to help businesses make informed natural gas buying decisions. To perform this analysis, eia updated the ieo2017 reference case with new macroeconomic information and varied macroeconomic.
Please call us to report a natural gas odor at 8008823377. Browse short and longterm oil forecasts, as well as natural gas outlook reports at wood mackenzie. The future of natural gas after a winterrelated rally in february 2014, the price of natural gas fell to levels not seen since 1998. How shale oil and gas is driving us refining and petrochemical investment. 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. Southeast asia energy outlook 2019 world energy outlook special report. 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 energy outlook is produced to aid bps analysis and decision making, and is. Natural gas distribution company gas supply and demand balance 2016 32 section 3 financial data viii. The knockon effects of low natural gas prices for mlps and. Growth in gas consumption was driven mainly by the us 78 bcm, supported by china 43 bcm, russia 23 bcm and iran 16 bcm. World energy outlook 2018 examines future patterns of global.
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. Heres a breakdown of our natural gas consumption over the last few years. The sankofagye nyame field produced its first gas in late october 2018. Outlook for natural gas supply and demand for 20172018 winter. Natural gas is the cleanest burning conventional fuel, producing lower levels of greenhouse gas emissions than the heavier hydrocarbon fuels, like coal and oil. This study covers the world outlook for inset lfe natural gas space heaters across more than 190 countries. Pdf 2018 edition of the gecf global gas outlook 2040. Historically, natural gas also has been one of the most economical energy sources. Weather forecasts can bring public speculators to the market in mass, causing wild daily fluctuations, especially during the.
Natural gas electricity generation transportation buildings industrial references 4. The outlook for energy is exxonmobil s latest view of energy demand and supply through 2040. It is a particularly difficult time to work on natural gas demand scenarios. Surge in us gas production, accounting for 45% of the global increase. Ng00 natural gas continuous contract overview marketwatch. Fracking technology and huge discoveries of the energy commodity in the marcellus and utica shale regions of the u. The annual energy outlook presents an assessment by the u. While things may be looking up for oil investors, natural gas investors. 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. This video explains what lng could mean for the canadian economy and global greenhouse gas reductions. The report analyses the main changes that will likely transform the natural gas market, including market reforms that shape supply and demand. Outlook for natural gas supply and demand for 2017 2018 winter.
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. Members of the gas exporting countries forum can log into the website to access extra content. Oil prices have drifted higher in the second half of 2017 on news that opec extended its production cut agreement into 2018. The peoples republic of china hereafter, china becomes the worlds leading importer of natural gas. 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. The occupational outlook handbook is the governments premier source of career guidance featuring hundreds of occupationssuch as carpenters, teachers, and veterinarians. 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. For each year reported, estimates are given for the latent demand, or potential industry earnings p. In a nutshell, the price of oil will be influenced by crude oil inventories, which are. Please do not use email to report an odor for immediate assistance or if you have received an urgent notice, please call 8004224012. 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. Natural gas forecast 2020, 2021 and 2022 long forecast. Document global gas demand longterm outlook h1 2018. Europe cis north america latin america asia pacific africa middleeast.
Nov 19, 2018 natural gas is a tough market to call in the short term, he said. 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. All fuels grew faster than their 10year averages, apart from renewables, although renewables. Our 2019 outlook, like the 2018 outlook, includes a section, pursuing a. Natural gas production, consumption, reserves, and prices 15 vi. Chart expected trading zones for december 31st, 2018 natural gas futures 15 minutes chart expected trading zones for december 31st, 2018 disclaimer. Natural gas outlook for nitrogen fertilizers market realist. 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. By fuel, energy consumption growth was driven by natural gas, which contributed more than 40% of the increase. After declining in 2016 for the first time in 11 years, natural gas production rose 1. 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. Global natural gas production world gas natural statistics. The 2018 annual report on the petroleum funds covers january to september. 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.
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. Annual energy outlook 2020 energy information administration. This report reprints in full the special section of the weo2017 covering the outlook for natural gas, which consists of four chapters chapters 8. Energy information administration office of energy analysis u. Oil and natural gas make up about 55 percent of global energy use. A balance sheet as at 2018, including a note listing the qualifying instruments, of the gpfs. The gas industrys future looks bright over next five. 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 20182023 world outlook for inset lfe natural gas. 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. The latest trends in energy and emissions in 2018 download.
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. Government is working with all stakeholders to meet the takeorpay obligations enshrined in the contract. The global boom in natural gas demand is about to slow. World energy outlook 2018 examines future patterns of. Africa energy outlook 2019 world energy outlook special report. 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. The price in us dollars per mmbtu 1 million british thermal unit. Natural gas natural gas consumption rose by 195 billion cubic metres bcm, or 5. 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. The book on incentives for generation of electricity from res and. 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. In the previous post fear will drive oil prices in 2018 i discussed the outlook for oil prices next year. 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.
In 2018, alberta produced 69% of the marketable natural gas in canada. 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. Although eia forecasts dry natural gas production will average 94. While things may be looking up for oil investors, natural gas. 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. Europe and selected countries, in constant prices, 20002018 forecast from 20. Revised annually, the latest version contains employment projections for the 201828 decade.
Department of energy washington, dc 20585 this publication is on the web at. Energy information administration of the outlook for energy markets through 2050. The mood music at yearend 2018 was increasingly gloomy, as economic and political factors spook oil and gas markets. 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. The advantages of natural gas include its efficiency, abundance, and versatility. Pdf the 2018 gecf global gas outlook highlights key challenges and opportunities for major gas exporting countries. Projections in the annual energy outlook 2018 aeo2018 are not predictions of what will happen, but rather modeled projections of what may happen given certain assumptions and methodologies. Natural gas distribution company financial statistics 37 ix.
379 1305 674 1451 921 26 393 149 870 511 1294 1062 1331 1190 1428 149 1127 365 1457 375 796 1398 1508 186 121 758 911 896 650 1228 385 745 1361 1462 238 20 355 971 1302 260 1267 347 1465 3 1491 1192 603 119 786