Investor Presentaiton
Supportive international & domestic market dynamics (2/3)
While upstream investment has reduced materially, demand, specifically for natural gas and LNG, continues to rise
Global supply/demand outlook for natural gas (bcm)
Global supply/demand outlook for LNG
TOP END
-ENERGY-
THE ENERGY OF TOMORROW
6,000
5,000
4,000
3,000
2,000
1,000
1990
2000
Material investment in gas supply
required to meet future demand
under all scenarios
2010
2020
Historical production / consumption
Net Zero
Supply with no greenfield investment
2030
Mmtpa - FOB
1,000
0
2040
2050
Rapid decarbonisation
Business-as-usual
The versatility of natural gas is one key to its expected prominent role in
the energy transition... an attractive option for stabilizing the path to
renewables while reducing carbon emissions in the short term.
"
International Energy Forum, 20 September 2021 (1)
Source: BP Energy Outlook: 2020 Edition
(1) International Energy Forum (4 Reasons Natural Gas Is A Critical Part Of The Energy Transition, 20 September 2021)
Projects under construction
(including recently sanctioned Qatar
North Field East and Baltic LNG)
reduce market space in late-2020s.
35 mmpa
Pre FID investments in new backfill
developments, ensure onstream supply is
maintained to projects in Malaysia, Indonesia,
Australia, Nigeria, Angola and Egypt
264 mmtpa
37€
2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 2047 2048 2049 2050
Operational LNG (post-FID supply)
Operational LNG (pre-FID supply)
-LNG Demand FOB
Under Construction
■
LNG trade flows are expected to increase materially as the mechanism
for balancing increasing global demand for natural gas
Additional upward pressure on LNG demand expected as European
countries look to reduce dependence on Russian gas in the wake of
ongoing geopolitical events and a renewed emphasis on energy security
This is likely to incentivise further investment in Australian LNG export
capacity and therefore requirement for additional natural gas feedstock
Source: Wood Mackenzie (Global gas 2021 outlook to 2050 (July 2021))
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