Global gas demand is expected to fall by four, or 150 billion cubic meters (bcm) – twice the size of the drop following the 2008 global financial crisis, according to the International Energy Agency report
Industry
MENA LNG companies likely to delay upcoming projects due to economic slowdown, says GlobalData
The cascading impact of global LNG supply overhang coupled with reduced demand may lead companies to withhold or delay their capital spends on upcoming multi-billion-dollar gas projects, said data and analytics company GlobalData
Total to contribute to shipping industry’s decarbonisation
Oil and gas company Total has joined the Getting to Zero Coalition to support the maritime industry’s decarbonisation by collaborating with companies across the maritime, energy, infrastructure and finance sectors
Governments should use COVID-19 recovery efforts to phase out support for fossil fuels
As governments design stimulus measures for economies hit by the COVID-19 crisis, they should take the opportunity of historically low oil prices to redirect some of the half a trillion dollars spent annually supporting fossil fuels into sustainable investment including low-carbon energy, according to the OECD and the International Energy Agency (IEA)
Aker Energy Ghana commits to finding solution for Pecan field development
Norwegian oil company Aker Energy has reaffirmed its commitment to finding a solution that will enable a phased development of the offshore Pecan field in Ghana to commence
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