January 2004

Trends and Resources

HP Impact: Gas, LNG market to grow robustly

Oil demand is forecast to drop by alittle over 1% by 2030. However, its consumption in absolute termswill increase from the current 77 million barrels/day (MMbpd) to120 MMbpd. To satisfy demand, a min..

Weirauch, Wendy, Hydrocarbon Processing Staff

Oil demand is forecast to drop by a little over 1% by 2030. However, its consumption in absolute terms will increase from the current 77 million barrels/day (MMbpd) to 120 MMbpd. To satisfy demand, a mind-boggling 200 MMbpd of new production will have to come onstream. So says a global perspective presented at a recent industry forum by Luis E. Giusti of the Center for Strategic & International Studies. He has analyzed data from IEA and the US DOE to assess the rate of growth in oil, gas and LNG. According to his assessment, the downstream sector alone will need investments of $412 billion to meet future needs. Although 70% of total oil sector investment – exclu

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