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Malaysia to lead global offshore natural gas production from upcoming projects in 2025

The country steps up offshore gas production

Malaysia to lead global offshore natural gas production from upcoming projects in 2025

Kuala Lumpur, July 27 - Neftegaz.RU. Malaysia is expected to contribute about 12% or 3.1 bln ft3/day of global natural gas production in 2025 from key offshore planned and announced projects (new-build projects) that are expected to start operations between 2021 and 2025, according to GlobalData.

The company’s report: Global Offshore Upstream Development Outlook, 2021–2025 reveals that 2 bln ft3 of natural gas production in Malaysia in 2025 is expected from planned projects with identified development plans, while 1 bln ft3 is expected from early-stage announced projects that are undergoing conceptual studies and are expected to get approval for development.

A total of 19 natural gas projects are expected to start operations in Malaysia during 2021-2025.
Of these, Kasawari, Jerun and B14 are some of the key projects that are expected to collectively contribute about 50% of the natural gas production in the country in 2025.

Effuah Alleyne, oil & gas senior analyst at GlobalData, comments:
  • The oil & gas industry has seen trends shifting towards the need for power sustainability, supported by impacts of the pandemic and governments globally contending with environmental and economic issues
  • Key themes including renewable energy, decarbonisation and clean energy mean that natural gas projects will provide high valued opportunities in the short to mid-term
GlobalData identifies Iran as the 2nd highest country globally with 2.7 bln ft3 of gas production in 2025 or about 11% of the total global natural gas production in the year.
Qatar follows with gas production of 2.67 bln ft3 from planned and announced offshore projects in 2025.

Among the companies, Qatar Petroleum, NIOC and Shell lead globally with highest offshore natural gas production of 2.6 bln ft3, 2.4 bln ft3 and 1.2 bln ft3 respectively, in 2025 from planned and announced projects.

Source : Neftegaz.RU


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