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Global Oil and Gas Outlook, 2022: Liquefied Natural Gas (LNG) to Play a Significant Role in Future Growth

·3-min read
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Dublin, July 14, 2022 (GLOBE NEWSWIRE) -- The "Global Oil and Gas Outlook, 2022" report has been added to's offering.

The oil and gas industry recovered strongly in 2021 after recording an all-time low in 2020 due to the COVID-19 pandemic. Oil prices in 2021 increased by 70.5% and reached a yearly average of $67.7 per barrel. Amid the geopolitical chaos and Russo-Ukrainian, the oil price rose to $117 per barrel in Q1 2022.

Despite the better-than-expected recovery in the oil and gas industry, uncertainty still looms due to changes in market dynamics in the coming years. This outlook study addresses the global market dynamics and implications in regional hot spots. As we move toward the second half of 2022, we observe that oil and gas companies are very disciplined with their capital spending, focusing more on their financial health, investing in more sustainable businesses, and committing toward climate change and transforming their business models.

The analyst has identified 5 major trends representing key pillars for growth within the oil and gas industry in the medium to long term:

  • With increased oil prices, companies will have additional funds to invest in decarbonization and green energy solutions, such as carbon capture,utilization, and storage (CCUS).

  • Liquefied Natural Gas (LNG) will play a significant role in the Oil and Gas Industry, driven by Europe's urgent need for a quick natural gas supply. United States will rise as the main LNG supplier to Europe.

  • Electrification will play a growing role in industrial decarbonization, focusing mainly on oil and gas, cement, iron and steel, and chemicals industries.

  • Demand for low carbon hydrogen is forecast to reach 60 Mt by 2030, with a potential to reduce 700 Mt of CO2 annually.

  • Digitalization technologies will underpin the energy transition within oil and gas companies. Automation technologies such as artificial intelligence, robotics, and the internet of things will be implemented to increase energy efficiency.

Key Topics Covered:

1. Strategic Imperatives

2. Growth Environment

  • 2021 Highlights of the Global Oil and Gas Industry

  • Top 7 Oil and Gas Predictions for 2022

  • 2021 Key Performance Indicators at a Glance

  • 2022 Oil and Gas KPIs at a Glance - Forecast

  • Trends and Events in Historical Prices for WTI and Brent

  • Global Average Rig Count vs Benchmark Crude Oil Prices

  • Global Oil and Gas Industry Upstream CAPEX

3. Research Scope and Segmentation

4. Global Oil and Gas Outlook

  • Key Market Trends

  • Trend 1 - CCUS an Important Equation in Decarbonization

  • Trend 2 - Role of LNG in the Energy Spectrum

  • Trend 3 - Industrial Electrification as a Decarbonization Pathway

  • Trend 4 - Rise of the Hydrogen Economy

  • Trend 5 - Oil and Gas Automation

5. Oil and Gas Upstream Segment Outlook

  • Top 8 Upstream Oil and Gas Predictions for 2022

  • Oil Production Forecast

  • Gas Production Forecast

  • Oil and Gas Upstream CAPEX Investments

6. Regional Predictions 2022

  • 2022 Oil and Gas Predictions - North America

  • 2022 Oil and Gas Predictions - Latin America

  • 2022 Oil and Gas Predictions - Europe

  • 2022 Oil and Gas Predictions - Middle East And Africa

  • 2022 Oil and Gas Predictions - Asia-Pacific

  • 2022 Oil and Gas Predictions - Russia and CIS

7. Growth Opportunity Universe

  • Modularization of CCUS Plants for Small Industries with Less CO2 Emissions

  • CCUS Clusters and Hubs for Integrating Different Industrial Clusters

  • Floating Storage Regasification Units (FSRUs) for Rapid Supply of LNG in Europe

  • Increased DER and BESS Integration to Drive Electrification Technology Adoption

  • Blending Green Hydrogen into Existing Natural Gas Pipelines to Reduce CO2 Emissions

  • AI as a Tool to Achieve Sustainability

  • Robotics for the Upstream Sector

  • IoT to Boost Efficiency

8. Key Conclusions

For more information about this report visit

CONTACT: CONTACT: Laura Wood, Senior Press Manager For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900

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