The 2020 release of Rystad Energy’s annual global energy outlook reveals that the COVID-19 downturn will accelerate peak oil demand, put a lid on the exploration efforts in remote offshore areas and reduce the worlds recoverable oil by around 282bn bbl
Exploration
Siemens partners with Total to develop greener LNG production
Siemens Gas and Power has partnered with supermajor Total to develop new concepts for the production of emission-friendly liquified natural gas (LNG)
Sparrows Group moves to purpose-built facility in Angola
Engineering and maintenance specialist Sparrows Group has re-located to a new purpose-built facility in Luanda, Angola to support its growing operations in Africa
Global gas demand to record largest decline in history: IEA
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
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
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