The transition to renewable energy is not without its challenges, but today’s markets are increasingly shifting in response to it. Understanding the massive swings in energy supply and demand taking place will enable oil and gas traders to confidently plan for the years ahead, especially as capital allocations shift in response to market signals.
Africa is conservatively forecast to reach peak gas production at 470 billion cubic meters (Bcm) by the late 2030s, equivalent to about 75 per cent of the expected amount of gas produced by Russia in 2022, according to research by Rystad Energy.
Germany took steps to ramp up liquefied natural gas (LNG) imports on Thursday as it moves away from piped Russian supply, renting four floating storage and regasification units (FSRUs) and choosing the North Sea port of Wilhelmshaven as the first handling hub.
UK-based oilfield services provider EnerMech has won its second long-term deal to support the Inpex-operated Ichthys LNG development in Australia with a subsidiary of Japan’s oil and gas player Inpex. The latest contract is for the provision of technical support and maintenance services.