Unlocking the potential of gas processing assets

摘要

As 2019 drew to a close,the global gas market was poised for a period of healthy growth,with no fewer than 50 new projects at the pre-final investment decision stage.The change in the first quarter of 2020 could not have been more dramatic,with a sharp fall in oil prices and economic uncertainty linked to the Covid-19 pandemic.Consequently,it appears that only 10 of the 50 projects will now go ahead.Lockdowns have reduced gas demand by about half in the three largest markets in Europe and lower oil prices have slowed gas imports to India.The drop in demand is likely to be temporary and to reverse once lockdowns end.The effects of the deferrals and cancellations of pre-final investment decision projects,however,will be felt for years to come.How will the major gas suppliers respond? How will countries adapt to meet their energy transition targets?