Leading energy industry consultancy Wood Mackenzie has forecasted that the US will become the world’s leading LNG supplier by 2028 and still be the largest natural gas producer by 2040 during Gastech 2018, running from 17-20 September 2018 in Barcelona
The forecast was made by Wood Mackenzie at a press conference to launch Gastech 2019, which will be held with sister event GPEX - the global event to enhance energy transition - at Houston’s NRG Centre, 17-19 September 2019.
Kristy Kramer, head of Americas gas research at Wood Mackenzie, said that the shale gas revolution had resulted in the US becoming the largest gas producer in the world, comprising 23 per cent of total global production.
“The outlook for US natural gas is extremely promising. With an abundance of low-cost gas resource and sustained demand growth, the size of the US natural gas market will greatly expand over the next 20 years. We expect the US to be the largest natural gas producer by 2040, with production increasing to almost 130 bcfd – more than 50 per cent over today’s level.”
“By 2035, US LNG exports are forecast to reach more than 140 mmtpa – far above that of Qatar (100 mmtpa) and Australia (80 mmtpa) as the next largest exporters,” said Kramer.
Charlie Cracknell, portfolio director at Gastech and GPEX, presented a market overview of the forecasted global growth of natural gas and LNG. He said that Gastech 2019 would play host to the entire upstream, midstream and downstream value chain. An enhanced feature for Gastech 2019 will be an increase in specialist industry zones from six to nine, with the addition of zones for ports facilities and bunkering, pipeline and FLNG and storage, transmission and distribution.
The global leaders’ panel featured a discussion on the transformative impact of digital technologies on the global energy industry. MAANA founder and CEO Babur Ozman, Enagás chief transformation officer Anton Martinez, BHGE president and CEO of Turbomachinery and process solutions Rod Christie and Petrofac’s group head of strategy, Jonathan Carpenter shed light on how companies could transform using new technologies.
Other themes discussed included the new demand centres for gas, the challenges in the gas sector in Spain and beyond and a range of other issues including the burgeoning trading sector, project financing, the interplay between gas and renewable energy in power generation, project development, managing emissions and project financial risk management.
Another major theme was the growth of the North American gas and LNG industry, a topic that will be a focus for Gastech 2019, in Houston - long recognised as the energy capital of the world.
The GPEX Summit began with inspiring words from Blanca Losada Martin, formerly of Naturgy and chairwoman of Futured. She emphasised the importance of changing perceptions and attitudes, and managing mistakes. Oriol Pudjoldevall, business development lead for the Energy Web Foundation, which works on blockchain solutions for energy, said current networks were controlled by one trusted conductor. In the future, networks would be a completely decentralised cloud where each individual knew exactly what was happening.
Charlie Cracknell, portfolio director at Gastech and GPEX, added, “We have been grateful to everyone who has made Gastech 2018 such an excellent event so far, including dignitaries, consortium members, exhibitors, speakers and attendees, and we are already preparing for Gastech 2019 in Houston.”
“At Gastech and GPEX 2018 there has been much discussion on the global implications of the growth in the US gas industry. It’s fitting that next year we will head to the epicentre of that industry in Houston for what we anticipate will be a highly memorable and successful Gastech and GPEX 2019.”
