GlobalData releases 2022 oil and gas predictions

According to the report, hydrogen, LNG, and environment, social and governance (ESG) could be the defining themes in the oil and gas sector in the coming decade. Oil and gas analysts at GlobalData offer their views on these topics:

Hydrogen

Barbara Monterrubio, Energy Transition Analyst at GlobalData, said: “Several major economies have outlined low-carbon hydrogen strategies to pave the way for enabling the switch to clean energy. In the unfolding hydrogen economy, green hydrogen projects are gaining more prominence over blue hydrogen due to their lower carbon footprint.

“Technology development will play a crucial role in the competitiveness of hydrogen economy in the future.”

LNG

Sumit Chaudhuri, Managing Analyst at GlobalData, commented: “LNG, the preferred mode of natural gas delivery across vast distances worldwide, is expected to continue to play an important role as more countries globally switch to natural gas as a bridge-fuel to meet their environmental goals. Strategic shifts in the LNG competitive landscape will shape the global energy dynamics in the next decade.

“Though LNG is finding new markets globally, there is scepticism over carbon emissions in its value chain. Carbon-neutral LNG (CNL) seems to be the answer to this issue.”

ESG

Raj Shekhar, Director at GlobalData, added: “Oil and gas companies have increased their efforts to limit or offset the environmental impact of their operations. The increased focus on climate change in global conventions like COP26 is expected to have a strong impact on conventional oil and gas operations.

“The ESG theme will dominate the boardrooms of leading energy companies due to shareholder pressure and global outrage on emissions.”

In a statement, GlobalData said that the heightened efforts by industry leaders in establishing hydrogen economy and sound ESG practices, and the strategic shifts in the LNG market landscape, justifies the focus on these themes.

Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/11042022/globaldata-releases-2022-oil-and-gas-predictions/