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Global Oil and Gas Outlook, 2022: Liquefied Natural Gas (LNG) to Play a Significant Role in Future Growth
Dublin, July 14, 2022 (GLOBE NEWSWIRE) -- The "Global Oil and Gas Outlook, 2022" report has been added to ResearchAndMarkets.com'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 https://www.researchandmarkets.com/r/npw49q
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