Data analytics firm GlobalData is projecting Malaysia to lead global offshore natural gas production by 2025
The firm’s new Global Offshore Upstream Development Outlook, 2021–2025 projects Malaysia to contribute 3.1Bn cubic feet (bcf) of global natural gas production in 2025 which will account for roughly 12% of output that year.
Nineteen natural gas projects are expected to start operations in Malaysia between 2021 and 2025. Of these, the key projects Kasawari, Jerun and B14 are expected to collectively contribute about 50% of the natural gas production in the country in 2025.
GlobalData believes 2 bcf of natural gas production by 2025 will come from planned projects with identified development plans, while 1 bcf is expected from early-stage announced projects that are undergoing conceptual studies and are expected to get approval for development.
GlobalData senior analyst for oil and gas Effuah Alleyne said “The oil and gas industry has seen trends shifting towards the need for power sustainability, supported by the impacts of the pandemic and governments globally contending with environmental and economic issues. Key themes including renewable energy, decarbonisation and clean energy mean that natural gas projects will provide high-value opportunities in the short to mid-term.”
Iran is expected to take second spot, with an expected 2.70 bcf of natural gas production in 2025 (about 11% of the total output that year), followed by Qatar at 2.67 bcf.
By 2025, the report projects Qatar Petroleum, National Iranian Oil, and Royal Dutch Shell to lead global offshore natural gas production of 2.60 bcf, 2.40 bcf and 1.20 bcf respectively.
Global Offshore Upstream Development Outlook, 2021–2025 can be accessed here.
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