Investments in liquefied natural gas (LNG) are forecast to rise by over 50% by 2029, according to a recent Goldman Sachs Research report. This surge is anticipated to significantly boost global LNG supply, potentially increasing it by 80% by 2030 and helping to address the European energy crisis.
The report highlights new projects in Qatar and North America as key drivers of this growth. As the demand for natural gas continues to rise and oil demand stabilizes, the energy sector is experiencing a notable shift. Over the next five years, the global gas market is expected to expand by 50%, while oil investment shows signs of peaking in non-OPEC countries.
Despite these changes, oil companies could still see substantial returns if oil prices stay within the $80 to $90 range. Additionally, the industry is likely to witness ongoing mergers and acquisitions as it adapts to the evolving energy landscape.
Goldman Sachs’ projections indicate that LNG will play a crucial role in the global energy transition, reflecting a significant shift in investment priorities within the sector. As the world moves towards cleaner energy sources, LNG is positioned to be a vital component of this transition.
photo source: Google
By: Montel Kamau
Serrari Financial Analyst
3rd June, 2024
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