Global energy demand is shifting to natural gas and investment in LNG is set to soar over 50 percent by 2029, while growth in oil investment shows signs of peaking in non-OECD countries, Goldman Sachs noted. Researcher anticipates an 80 percent increase in global LNG supply by 2030, driven by new projects the North America and Qatar.
By 2028, the US will hold 232 billion cubic meters per year (bcm/y) of LNG export capacity, up from 126 today – far ahead of Qatar with 171 bcm/y. The world’s rising gas demand has greatly increased drilling activity in the US and analyst anticipate a further 54 percent rise by 2029, mainly from shale gas. Cost advantages is gas production and exports could make the US the world’s largest energy exporter – though those costs continue to flatten.
Committed US projects are going to double export capacity over the next three to four years, but analysts are wary about how many more projects will go ahead afterwards, as prices are likely to come down.
