Global Oil, Natural Gas and LNG Demand Outlook through 2022: Uncertain Recovery from COVID-19 and Its Impacts

摘要

The COVID-19 pandemic has hardest hit oil demand and exerted relatively smaller impacts on natural gas and LNG(Fig. 19). It has been found that production launches under LNG projects work to expand market supply. While natural gasand LNG demand are expected to restore the pre-pandemic uptrend in 2021, oil demand is estimated to recover its prepandemiclevel in 2022. Depending on the greatly uncertain future courses of the pandemic and the global economy, globaloil, natural gas and LNG demand growth will differ from the Reference Scenario, exerting different impacts on theinternational supply-demand balance. We will have to keep close watch on future global oil, natural gas and LNG demandtrends.