The energy research firm Rystad Energy has revealed some key growth statistics for the natural gas industry.
Rystad has indicated that globally oil and gas discoveries have increased by 35% from 2018.
The respected energy research firm has reported that the majority of these new discoveries were gas compared to oil. In fact, 63% of the new discoveries were gas and 37% were liquids.
Thus far, the company has estimated that 6.7billion barrels of oil equivalent have been discovered in Q1 and Q2 2019.
According to an article in Rigzone, Rystad senior analyst Rohit Patel said “With deepwater finds contributing half of the discovered volumes, it can be inferred that high-risk frontier plays in the deepwater are back on the map for explorers.”
Rystad Energy also forecasts that investment in greenfield LNG projects are expected to reach almost $103 billion in 2019.
According to a Rystad release, a total of 33 million tpa of liquefaction capacity and $29 billion of Capex has been sanctioned so far this year. They expect that the second part of the year will see over 70 million tpa of capacity and $70 billion of Capex being sanctioned.