LNG capacity worldwide has increased in recent years, with new projects under construction and ready to enter service. Oil/Gas McKinsey forecasts near-term upside but a challenging long-term outlook for refining 21 August . The report reveals that gas is the only fossil fuel expected to continuously rise in demand through to 2035 and sets out a vision of a very different gas and LNG market dynamic. McKinsey Energy Insights' 'Global Gas and LNG Outlook to 2035' report revealed that, in 2018, China emerged as the world's biggest importer of gas and LNG, overtaking Japan, and second biggest Key messages . In its recently released Global Gas and LNG Outlook to 2035, global consultancy McKinsey wrote that it is forecasting yearly global gas demand growth of 0.9% until 2035, while projecting growth in LNG demand at 3.6% per year during the same period. Oilfield Technology , Thursday, 12 September 2019 09:30. McKinsey Energy Insights, the global energy market intelligence and analytics arm of McKinsey & Company, has launched its Global Gas and LNG Outlook to 2035. The U.S., thanks to booming shale gas . According to the report, "Global Gas & LNG Outlook to 2035: H1 2019," more than half of global natural gas supply growth until 2035 will be sourced from the US: 380 billion cu m (bcm) out of 635 bcm. According to Global Gas & LNG Outlook to 2035 by McKinsey & Company, a global market intelligence and analytics group focused on the energy sector, "South Asian gas demand is expected to grow by approximately 2 percent per annum by 2022, spurring LNG [liquid natural gas] imports by 20 billion cubic meters," and over the next five years it . According to McKinsey's Global Gas and LNG Outlook to 2035 report, China last year overtook Japan as the world's biggest importer of gas and LNG and surpassed South Korea to become the second . News Energy demand to plateau by 2035 despite strong GDP and population growth 12 . The report reveals US gas economics will reach below $3/mmbtu in the next 10 years due to ample . The report outlines recent trends in global refining and presents the company's outlook on supply, demand and margins. 3 For example, see McKinsey & Co. (2019). Natural gas is set to see the strongest demand growth among fossil fuels at 15% in the coming 15 years driven by increasing energy demand in emerging economies and the expanding use of liquefied natural gas (LNG) in more countries, Alessandro Agosta, partner at global management consulting firm, McKinsey & Company, told Anadolu Agency in an exclusive interview. The report reveals that gas is the only fossil fuel expected to continuously rise in demand through to 2035. Global Gas & LNG Outlook to 2035 September 2018. Global Gas & LNG Outlook to 2035 McKinsey.pdf - Free download as PDF File (.pdf), Text File (.txt) or read online for free. between 2018-35. 23 McKinsey. McKinsey Energy Insights, data and analytics specialist for the global energy industry, has released its Global Gas & LNG Outlook to 2035. Resources and Energy Quarterly September. The report outlines recent trends in global refining and presents the company's outlook on supply, demand and margins. February 2020. Shell LNG Outlook 2020. The outlook for natural gas is much more resilient than other fossil fuels. Also: S&P Global Platts. (2019) LNG market trends and their implications. 4 McKinsey. Source: IEA; McKinsey Energy Insights Global Energy Perspective 2021 About this article Overview It also draws on McKinsey's views on market, then shifts to the outlook for This report provides McKinsey's perspec the fundamentals of liquids supply and market fundamentals, refining margins tive on the global refining market, including . Global gas & LNG outlook to 2035. Oil and Gas Industry Stats and Growth Projections in 2021 The upstream CAPEX for oil and gas worldwide is expected to grow by 4% during 2019. The report finds that continuous demand growth, alongside Natural gas is seen as a bridging fuel for the energy transition, and this should support robust demand growth in gas/LNG over the next decade. Energy Insights forecasts gas market transformation. Also: Shell. The pace of growth in the gas market is set to slow, but natural gas will remain the fastest-growing fossil fuel and the only fossil fuel expected to grow beyond 2035, McKinsey said in its 'Global gas and LNG outlook to 2035' report. As the LNG market continues to expand, demand is expected to grow by 3.6 percent per annum to 2035 (Source: Global gas and LNG outlook to 2035 by McKinsey & Company). Consumption is projected to grow rapidly at 3.4% p.a. 3,787 13% 16% 71% 66% 23% 2035 15% 18% 2020 4,333 4,024 2050 14% 63% LNG1 Pipeline-import flows Domestic gas 1. BP Energy Outlook 2019, EIA Internation Energy Outlook 2018, IEA World Energy Outlook 2018, Energy Insights by McKinsey 2019; Shell LNG Outlook 2019; Exxon Outlook for Energy 2018 2018 2020 2025 2030 2035 2018 20 22 24 26 28 30 32 24 2036 650 600 550 500 450 400 . equipment such as actuators, LNG production, transportation and distribution can be conducted in a safe, productive and profitable way. Expansion in the gas and LNG markets continues, with LNG demand expected to increase 3.6 percent per year to 2035. Demand for natural gas is on the rise. The report reveals that, in 2018, China emerged as the world's biggest importer of gas and LNG . (The 5 Mt/year Damietta LNG plant in northern Egypt has exported 12 cargos since resuming operations in February 2021 and it is expected to export the same number of shipments during H2 2021) According to the report, "Global Gas & LNG Outlook to 2035: H1 2019," more than half of global natural gas supply growth until 2035 will be sourced from the US: 380 billion cu m (bcm) out of . Opportunities and challenges of China's LNG expansion. The United States is expected to account for more than half of the global natural gas supply growth through 2035, McKinsey & Company said in a. Reference 1. Over the past 12 months, the gas market expanded by 5.3%, while the LNG segment grew at 8.6% in 2018. The pace of growth in the gas market is set to slow, but natural gas will remain the fastest-growing fossil fuel and the only fossil fuel expected to grow beyond 2035, McKinsey said in its 'Global gas and LNG outlook to 2035' report. The report reveals that gas is the only fossil fuel Over the past 12 months, the gas market expanded by 5.3%, while the LNG segment grew at 8.6% in 2018. While that demand will be underpinned by China, McKinsey also pointed to Bangladesh and Pakistan […] The petroleum industry grew to employ approximately 8% by the end of 2018. 2018-10-04T10:09:00+01:00 By Jemima Owen-Jones. In the short term, the International Energy Agency estimates that natural gas demand will increase by an average 1.7% per year between 2022 and 2024. McKinsey & Company, a management consulting firm, explained the growing importance of LNG in the energy market earlier this week in its Global Gas And LNG Outlook To 2035. In its latest 2035 LNG Outlook Report, the global consulting firm said supply was racing to keep pace with booming demand out of Asia. 6 Heerema D, Kniewasser M. (2017). According to Shell's LNG Outlook 2021, global LNG demand is expected to nearly double from 360 million tonnes in 2020 up to 700 million tonnes by 2040. Moreover, McKinsey expects China, ASEAN countries and South Asia to account for 95 percent of global LNG demand growth until at . " [That is] well above the growth of overall gas demand, which is projected at 1% cent a year," McKinsey predicts, pointing out however that "LNG's . . McKinsey Energy Insights, the global energy market intelligence and analytics arm of McKinsey & Company, has launched its Global Gas and LNG Outlook to 2035.The report reveals that gas is the only fossil fuel expected to continuously rise in demand through to 2035 and sets out a vision of a very different gas and LNG market dynamic. September 4, 2019. Global Gas Outlook to 2050. Supply and Demand of LNG According to McKinsey's long-term outlook, LNG demand could grow by 3.6% p.a. 2 2018 gas & LNG market highlights 2018 gas & LNG market highlights Medium-term highlights: the gas & LNG world five years out Long-term insights. It is the only fossil fuel expected to grow beyond 2030, peaking in 2037. McKinsey Energy Insights, the global energy market intelligence and analytics arm of McKinsey & Company, has launched its Global Gas and LNG Outlook to 2035. The outlook also offers a perspective on how changes in global . According to McKinsey's 'Global gas outlook to 2050' report, gas will be the strongest-growing fossil fuel and will increase by 0.9% from 2020 to 2035. Available from The outlook for natural gas is much more resilient than other fossil fuels. Global Gas & LNG Outlook to 2035 Read the article This leads to the risk of a collapse in the B2C channel in automotive lubes, with fleet owners and other supergroups, such as maintenance centers, becoming the main customers. McKinsey & Company 5 The share of LNG in the global gas supply will increase consistently, as it meets demand growth and replaces declining pipeline and domestic gas. The Mckinsey report went on to further underscore that China, ASEAN, and South Asia will account for more than 95% of global LNG demand growth until 2035. The key findings were . The 2031-35 global average would be approximately $40 billion. McKinsey & Company has announced the release of its global downstream outlook to 2035, which is based on data and insights from Energy Insights' models. While 2020 was a volatile year for LNG with periods of both oversupply and tightness, overall, "LNG is set for stronger growth, as domestic supply in key gas markets will not keep up with demand growth," according to McKinsey & Company's Global Gas Outlook to 2050 report. The U.S., thanks to booming shale gas . Gas demand to rise through 2035 Gas is the only fossil fuel expected to continuously rise in demand through to 2035, according to a new report. These totaled more than 80 million tonnes/year of new production, or 25% of the current market, according to an outlook by McKinsey & Co. From 2035 to 2050, gas demand will decline by 0.4 percent. However, spending is still expected to be below 2019 levels. T he United States is expected to account for more than half of the global natural gas supply growth through 2035, McKinsey & Company said in a new report.. The liquefaction process introduces a large contraction in volume to the product, making it much more economical to . between 2018-35. 'Global gas and LNG market outlook to 2035', McKinsey. 5 - Australian Department of Industry, Innovation and Science (2018). Total gas demand is set to rise by 0 . McKinsey advise drastic and immediate reduction of fossile fuels (ref McKinsey Quarterly) "While the pace of growth is set to slow, gas remains the fastest-growing fossil fuel and the only fossil fuel expected to grow beyond 2035." (ref McKinsey Global gas and LNG outlook to 2035) As Africa's second-largest producer in 2019 , Egypt is expected to become one of the world's leading 10 exporters of LNG (liquefied natural gas) by the end of this year. Role of Gas and LNG and Projected Global Demand. Role of Gas and LNG and Projected Global Demand. March 2018. McKinsey Solutions Sprl. The plan uses forecasts by McKinsey & Company in February that show global LNG demand growing by 3.4%/year to 2035 before slowing to a 0.5%/year growth from 2035 to 2050. In order to understand the economics of the LNG Value chain, and the opportunities ahead, we first need to revisit the different links; natural gas production and exploration, liquefaction and storage, shipping, and receiving, regasification and distribution. According to McKinsey, "Meanwhile, LNG is set for stronger growth, as domestic supply in key gas markets will not keep up with demand growth. Global Gas and LNG Outlook to 2035. China, ASEAN, and South Asia will account for more than 95% of global LNG demand growth until 2035. (2019). McKinsey Energy Insights, the global energy market intelligence and analytics arm of McKinsey & Company, has launched its Global Gas and LNG Outlook to 2035.The report reveals that gas is the only fossil fuel expected to continuously rise in demand through to 2035 and sets out a vision of a very different gas and LNG market dynamic. The LNG Value Chain. McKinsey & Company has announced the release of its global downstream outlook to 2035, which is based on data and insights from Energy Insights' models. LNG demand is set to grow by 60% by 2030. China's growth in natural gas demand is greater than that of the next 10 countries, including the U.S. and represents half of demand through 2035, according to McKinsey. C The share of LNG in global gas trade will . Liquefying reduces the gas to 600th of its original volume so that it can more easily be delivered to markets via special ocean-going tankers. According to the McKinsey Global Gas and LNG Outlook to 2050 report, demand for LNG is expected to grow 3.4 percent annually to 2035 — with approximately 100 million metric tons of additional capacity needed to meet demand growth as well as decline from existing projects 1.. Including LNG flows within country for Indonesia and Malaysia. McKinsey's Global Gas Outlook to 2050 projects total global demand for natural gas to grow by 0.9% annually from 2020 to 2035, peaking in 2037. growth is seen at 635 bcm, according to McKinsey. LNG issues in the . Supply and Demand of LNG According to McKinsey's long-term outlook, LNG demand could grow by 3.6% p.a. (see page 5 - LNG to surpass pipeline gas in international trade by 2035) 3 . Global gas & LNG outlook to 2035. Global Gas and LNG Outlook to 2035. The report reveals that gas is the only fossil fuel . to deal with the adverse consequences of global warming without threatening food production and (iii) financing of low greenhouse-gas emissions and climate-resilient development. McKinsey report: Gas the only fossil fuel to rise in demand through to 2035 China, ASEAN, and South Asia to account for 95% of global LNG demand growth until at least 2035 Carla Sertin Sep 15, 2019 McKinsey Energy Insights, the global energy market intelligence and analytics arm of McKinsey & Company, today launches its Global Gas and LNG Outlook to 2035. Trade deal could propel U.S. to top of China's LNG supplier list. The key findings were . McKinsey Energy Insights, the global energy market intelligence and analytics arm of McKinsey & Company, today launches its Global Gas and LNG Outlook to 2035. IEA World Energy Outlook 2018, Energy Insights by McKinsey 2019; Shell LNG Outlook 2019; Exxon Outlook for Energy 2018 2018 2020 2025 2030 2035 2018 20 22 24 26 28 30 32 24 2035 650 600 550 500 450 400 350 300 250 200 150 100 50 0 5,000 . The outlook for the global refining market varies across regions and scenarios, but declining demand overall is likely to lead to closures and put downward pressure on industry profits. Short Term Energy Outlook. "Gas 2019: Analysis and forecasts to 2024", IEA (2019) "Global Gas & LNG Outlook to 2035", McKinsey (2018) "Global LNG Fundamentals", Department of Energy (2018) IGU 2019 World LNG Report (2019) "Natural gas pricing and its future: Europe as the battleground." Melling. Energy Insights, the data and analytics specialist for the global energy industry, part of McKinsey & Company, has released its Global Gas & LNG Outlook to 2035. According to McKinsey's Global Gas and LNG Outlook to 2035 report, China last year overtook Japan as the world's biggest importer of gas and LNG and surpassed South Korea to become the second-biggest LNG importer. The shipping industry's demand for LNG will grow at a spectacular rate of 3% a year for the next 15 years, according to consultancy McKinsey's global gas and LNG outlook to 2035. By using our website you agree to our use of cookies in accordance with our cookie policy. Shell also expects LNG to account for 65% of . illustration: McKinsey Energy Insights. China, ASEAN, and South Asia will account for more than 95% of global LNG demand growth until 2035. The report reveals that gas is the only fossil fuel . International LNG Markets The International Gas Union (IGU) reports that the global liquefied natural gas trade set a record in 2018 for the fifth consecutive year, reaching 316.5 million tonnes.4 This market continues to increase, with LNG being the fastest growing portion of this as growth markets are not well connected to supply basins by land. McKinsey & Company, a management consulting firm, explained the growing importance of LNG in the energy market earlier this week in its Global Gas And LNG Outlook To 2035. 6) Cedigaz: LNG Outlook 2019 7) Total: Energy Outlook 2019 8) BP: Energy Outlook 2019 Edition 9) ExxonMobil: 2020 Investor Day P (Mar'20) 10) McKinsey: Energy Insights - Global Gas & LNG Outlook to 2035 (H1 2019) 11) Gas Exporting Countries Forum (GECF): Global Gas Outlook 2050 Synopsis P (Feb'20) P - Published Summarised by Standard Bank . 2 McKinsey, 2021. 24 Financial Post. Demand is expected to grow 3.4 percent per annum to 2035, with some 100 million metric tons of additional capacity required to meet both demand growth . The United States is expected to account for more than half of the global natural gas supply growth through 2035, McKinsey & Company said in a new report.. In this article, we will go into further detail regarding the economic factors of the value chain and project . From 2035 to 2050 natural gas demand is expected to remain largely . Gas will be the strongest-growing fossil fuel and will increase by 0.9 percent from 2020 to 2035. Detailed market research and continuous tracking of market developments—as well as deep, on-the-ground expertise across the globe—informs our outlook on global gas and liquefied natural gas (LNG). Article 2 of the Paris Agreement. The report reveals that a wave of new refinery capacity, led by greenfield projects in Asia and the Middle East, is expected to negatively affect global hub refining utilisation as early as . Global gas & LNG outlook to 2035 H1 2019. This relatively moderate decline is due to hard-to-replace gas use in the chemical and industrial sectors, which . "To what scale basins will be developed will be informed by the delivered cost of the resource and the outlook for future LNG demand post-2035 based on that cost," the NGIP says. Global LNG demand is expected to grow 3.4% per annum to 2035, calling for some 100 million metric tons of additional capacity to meet both demand growth and replace decline from existing . LNG demand is expected to grow 3.4 percent a year to 2035, "with . Key messages A Recap 2018-H1 2019 . Global gas & LNG outlook to 2035 H1 2019. June 12, 2019. that Russia's legacy pipeline-dominated export model is no longer optimal in the emerging global gas market, in which LNG is set to have the largest share of the growth in gas trade over the coming . McKinsey Energy Insights, the global energy market intelligence and analytics arm of McKinsey & Company, has launched its Global Gas and LNG Outlook to 2035. 5 International Energy Agency and Korea Energy Economics Institute. In fact, Rystad sees upstream gas and LNG investments growing by 14% YoY in 2022, compared to 7% growth in upstream oil. McKinsey & Company has announced the release of its global downstream outlook to 2035, which is based on data and insights from Energy Insights' models. Meanwhile, LNG is set for much stronger growth, with McKinsey predicting that domestic supply in key gas markets will be unable to keep up with demand growth. 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