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Articles by Rystad Energy
$5 Billion In Upstream Assets Is Up For Grabs In Southeast Asia
Southeast Asia will be a hotbed for upstream mergers and acquisitions (M&A) in the next two years, with more than $5 billion of assets up for grabs, Rystad Energy research shows. The bulk of these opportunities are in Indonesia, where upwards of $2 billion of assets are on the market, followed by Malaysia and Vietnam which have approximately $1.4 billion and $1 billion for sale respectively.
$5 Billion In Upstream Assets Is Up For Grabs In Southeast Asia
Southeast Asia will be a hotbed for upstream mergers and acquisitions (M&A) in the next two years, with more than $5 billion of assets up for grabs, Rystad Energy research shows. The bulk of these opportunities are in Indonesia, where upwards of $2 billion of assets are on the market, followed by Malaysia and Vietnam which have approximately $1.4 billion and $1 billion for sale respectively.
Europe Looks At Africa As Main Partner For Green Hydrogen Economy
OilPrice.com By Rystad Energy Africa’s total announced electrolyzer pipeline capacity has reached 114 gigawatts (GW), with 61% of this tied to countries in Sub-Saharan Africa, according to Rystad Energy analysis. This African region has an announced electrolyzer pipeline of about 70GW, with Mauritania covering 50% of the total, followed by South Africa and Namibia.
Europe Looks At Africa As Main Partner For Green Hydrogen Economy
Africa’s total announced electrolyzer pipeline capacity has reached 114 gigawatts (GW), with 61% of this tied to countries in Sub-Saharan Africa, according to Rystad Energy analysis. This African region has an announced electrolyzer pipeline of about 70GW, with Mauritania covering 50% of the total, followed by South Africa and Namibia.
The Real Reason Why Automakers Slashed EV Prices
2023-03-13 17:00:00 OilPrice.com By Rystad Energy The global electric vehicle (EV) market is reeling from one of the most dramatic collapses in monthly sales to date, with Rystad Energy research showing that only 672,000 units were sold in January, almost half of December 2022 sales and a mere 3% year-on-year increase over January 2022. The EV market share among all passenger car sales also tumbled to 14% in January, well down on the 23% seen in December.
The Real Reason Why Automakers Slashed EV Prices
The global electric vehicle (EV) market is reeling from one of the most dramatic collapses in monthly sales to date, with Rystad Energy research showing that only 672,000 units were sold in January, almost half of December 2022 sales and a mere 3% year-on-year increase over January 2022. The EV market share among all passenger car sales also tumbled to 14% in January, well down on the 23% seen in December.
Offshore is back: More than $200 billion of greenfield investments expected by 2025 [GGP]
Offshore is back: More than $200 billion of greenfield investments expected by 2025 [GGP] The offshore oil and gas (O&G) sector is set for the highest growth in a decade in the next two years, with $214 billion of new project investments lined up. Rystad Energy research shows that annual greenfield capital expenditure (capex) broke the $100 billion threshold in 2022 and will break it again in 2023 – the first breach for two straight years since 2012 and 2013.
Offshore Oil And Gas Is Back With More Than $200 Billion In New Investment
2023-03-07 17:00:00 OilPrice.com By Rystad Energy The offshore oil and gas (O&G) sector is set for the highest growth in a decade in the next two years, with $214 billion of new project investments lined up. Rystad Energy research shows that annual greenfield capital expenditure (capex) will break the $100 billion threshold in 2023 and in 2024 – the first breach for two straight years since 2012 and 2013.
Offshore Oil And Gas Is Back With More Than $200 Billion In New Investment
The offshore oil and gas (O&G) sector is set for the highest growth in a decade in the next two years, with $214 billion of new project investments lined up. Rystad Energy research shows that annual greenfield capital expenditure (capex) will break the $100 billion threshold in 2023 and in 2024 – the first breach for two straight years since 2012 and 2013. As global fossil fuel demand remains strong and countries look for carbon-friendly production sources, offshore is back in the spotlight.
Fossil Gas Emissions Projected To Peak In 2025
The inflection level for fossil gas carbon dioxide (CO2) emissions is nigh, with emissions on monitor to peak by 2025, based on Rystad Vitality analysis and evaluation. On the present world pathway of introduced insurance policies, initiatives, trade tendencies and anticipated technological developments, world CO2 emissions are poised to hit about 39 gigatonnes per 12 months (Gtpa) in 2025 earlier than settling into a gentle annual decline as industries clear up their carbon footprint.
Commentary: 2023 Global Conventional Brownfield Investment to Near $200 Billion
Brownfield investment in the conventional upstream sector looks on course to hit nearly $200 billion this year as the oil and gas industry and global economy recovers from the pandemic-induced slump in demand. The Middle East is set to lead the way with spending levels, with markets in Asia and South America also attracting significant investment in the years ahead.
Inflation Reduction Act Opening Up Green Hydrogen Possibilities
2023-02-27 20:00:00 OilPrice.com By Rystad Energy If 2022 turbocharged the green hydrogen economy, then 2023 is the start of a long slog for this nascent sector that is set to be the backbone for decarbonization, transition and energy security strategies. Rystad Energy research has found that electrolyzer capacity is expected to grow by 186% from 2022 to 2023. Attention is therefore turning to the supply chain capacity necessary for electrolyzer production.
Fossil Fuel Emissions Projected To Peak In 2025
2023-02-27 17:00:00 OilPrice.com By Rystad Energy The inflection point for fossil fuel carbon dioxide (CO2) emissions is nigh, with emissions on track to peak by 2025, according to Rystad Energy research and analysis.
Freeport ships set sail while Henry Hub prices sink further
Freeport ships set sail while Henry Hub prices sink further [GGP] Freeport LNG is back in the game and ready to ramp up exports again. The news yesterday that the facility has approval to restart production from one of its liquefaction trains, with a second train coming back online soon, couldn't have come at a worse time for markets as prompt month Henry hub prices sank to multi year lows.
How Europe Can Regain Its Role As A Clean Energy Leader
2023-02-07 21:00:00 OilPrice.com By Rystad Energy Governments and institutions around the globe are seeking immediate fixes and long-term solutions to the ongoing energy crisis, exacerbated by the ongoing war between Russia and Ukraine.
Freeport LNG necessary for global markets in 2023 [GGP]
Freeport LNG necessary for global markets in 2023 [GGP] Global gas markets experienced a wild ride in 2022, with no shortage of volatility for market participants. Cracks began to emerge in global balances as the market emerged from winter 2021-22. Even with a relatively moderate winter, EU & US storage levels quickly suggested a significant shortage. Russia’s invasion of Ukraine guaranteed that gas would be in limited supply in the short term, and Europe was most vulnerable.
Subsea Services Market Expected to Top $7 Billion in 2023
The subsea services market – with its flow assurance services, ROV drill support and inspection, maintenance and repair (IMR) – is set to top $7 billion in spending this year. That represents more than a 20% increase compared to last year, driven largely by increased brownfield activity in the Americas and Europe. A major indicator of the health of the subsea market is subsea tree award and installation activity, as well as tracking the health of trees over their lifetime for key takeaways.
Rystad Energy Services To Grow To $1 Trillion By 2025
2023-01-30 21:00:00 OilPrice.com By Rystad Energy Rystad Energy expects the global market for oil and gas contractors to rise to a peak of $1 trillion in 2025 and remain at high levels for several years thereafter. Helped by strong growth in the midstream part of the industry to liquefy, transport, and re-gasify natural gas, overall oil and gas spending will stay above $920 billion annually on average for the 2022-2028 period.
Norway's Temporary Tax Breaks To Bolster Oil Flows To Europe
2023-01-27 23:00:00 OilPrice.com By Rystad Energy The energy crisis in Europe triggered by the ongoing war between Russia and Ukraine has left the continent short of hydrocarbon supplies and increasingly reliant on liquefied natural gas imports.
Norwegian tax break will see gas and oil supply to Europe increase
Double relief: Norwegian tax break will see gas and oil supply to Europe increase [GGP] The energy crisis in Europe triggered by the ongoing war between Russia and Ukraine has left the continent short of hydrocarbon supplies and increasingly reliant on liquefied natural gas imports.
Double relief: Norwegian tax break will see gas and oil supply to Europe increase [GGP]
Double relief: Norwegian tax break will see gas and oil supply to Europe increase [GGP] The energy crisis in Europe triggered by the ongoing war between Russia and Ukraine has left the continent short of hydrocarbon supplies and increasingly reliant on liquefied natural gas imports.
US gas supply forecast is bullish, but prices are bearish as storage surpluses continue to grow
US gas supply forecast is bullish, but prices are bearish as storage surpluses continue to grow [GGP] Winter demand made an abrupt return last week, signaled by a sizable storage withdrawal of 82 Bcf in the US lower 48. The East and Midwest regions both experienced 38 Bcf withdrawals across the week. However, the primary storage story is the resilience of South-Central salts, which saw an injection of 12 Bcf, bringing it to 6.6% above the five-year average.
Low-Carbon Investments and Spending on Hydrogen and CCUS Expected To Surge as Inflation Weakens
Spending on low-carbon projects will increase by $60 billion this year, 10% higher than 2022, led by wind developments but helped by a significant rise in funding for hydrogen and carbon capture, utilization and storage (CCUS) infrastructure, Rystad Energy research shows. The growth in total spending is a slowdown from recent years—which averaged 20% annual increases—as cost-conscious developers tighten their purse strings after two years of soaring prices.
Gas prices now competitive with coal - time for a correction? [GGP]
Gas prices now competitive with coal - time for a correction? [GGP] Europe TTF prices have declined sharply on the week – from about $20/Mmbtu to under $16/Mmbtu at the time of writing, easily breaking the near-term floor of the upper coal -to-gas switching limit. However overall fundamentals point to a slight bullish skew for the coming week, driven by colder-than-normal weather and fluctuating wind generation in Northwest Europe.
Gas prices set to recede in 2023 based on current trend [GGP]
Gas prices set to recede in 2023 based on current trend [GGP] After averaging over $40/Mmbtu in 2022, front month TTF prices are now testing $20/Mmbtu levels, last seen in September 2021. Amidst an unseasonably warm winter, recovering nuclear and above normal wind power in Europe, and lower prices across the energy commodity complex, we are set up for a bearish start to 2023.
2023 Forecast:: Led by Brazil, Offshore Oilfield Services Spending to Rise
Offshore exploration and production (E&P) capital expenditures (capex) will shake off the pandemic-induced declines of the past two years and rebound by 20% in 2022, reaching a total $165 billion spent on exploration, wells, and facilities (Figure 1). This is slightly less than half the all-time high for offshore E&P investment of $332 billion in 2014, set at a time when the average Brent crude oil price had stayed above $100 per barrel for a fourth consecutive year.
EU gas price cap, Russian pipeline explosion and winter arrives in the US
EU gas price cap, Russian pipeline explosion and winter arrives in the US After a few volatile weeks on the back of Europe’s first winter cold snap, gas prices have been sliding, reaching $33.76 per million British thermal units (MMBtu) on the Netherlands-based Title Transfer Facility (TTF) on 20 December, down 20% week-on-week. Prices on the UK’s National Balancing Point (NBP) are currently tracking the TTF price.
Record-high LNG imports in Europe just in time for demand surge
Record-high LNG imports in Europe just in time for demand surge [GGP] Europe imports record high levels of LNG just in time for winter demand surge. European temperatures have continued to decline in the first week of December, pushing weekly average storage withdrawals to some 470 million cubic meters per day (MMcmd) and LNG imports to a record monthly high of 11.4 million tonnes. A new LNG long-term deal was signed between Sempra and INEOS, boosting supply to Europe’s gas market.
Russian upstream investments set to plunge by $15bn this year as sanctions obscure production outlook [GGP]
Russian upstream investments set to plunge by $15bn this year as sanctions obscure production outlook [GGP] The financial impact of Western sanctions and the widescale exodus of foreign partners from the Russian oil and gas sector are beginning to materialize, with upstream investments set to sink to $35 billion in 2022, according to Rystad Energy research. Before Russia’s invasion of Ukraine in late February this year, upstream investments in Russia were expected to approach $50 billion in 2022.
Cold snap sees surge in gas demand as more French nuclear power starts to come back online [GGP]
Cold snap sees surge in gas demand as more French nuclear power starts to come back online [GGP] Europe cold snap sees gas demand surge – with the UK being the highest priced market as wind generation falls. French nuclear power starts to make a come comeback just as Sweden takes a plant offline. Europe is currently undergoing a cold weather snap that is expected to see sustained high power prices this week, following a surge in prices last week.
Europe looks to US and Qatar for long term LNG imports
Europe looks to US and Qatar for long term LNG imports [GGP] European temperatures have dived in the last two weeks of November, kick-starting the gas storage withdrawal season and boosting pricing momentum in Europe’s gas market. Russia’s short-lived threat to halt gas transits to Europe via Ukraine’s Sudzha entry point on 28 November and ongoing discussions in the EU over a proposed cap on gas prices add to the debate.
Volatility continues in the European gas market as Norwegian flows are disrupted [GGP]
Volatility continues in the European gas market as Norwegian flows are disrupted [GGP] Europe In Europe, the month-ahead Title Transfer Facility (TTF) gas price opened the day at around $30 per million British thermal units (MMBtu) 68% down from an all-time high on 26 August, despite the volatility around Nov 15th that briefly took prices to the vicinity of ~$35/Mmbtu.
How Iberia Escaped Europe’s Energy Crisis | OilPrice.com
Iberia is well positioned to compete with – or even replace – Northern Europe’s existing energy industrial hub as sectors in Spain and Portugal can call on abundant sunshine, strong winds and mature gas infrastructure as well as a wealth of industry and managerial expertise.
Volatility continues in the European gas market as Norwegian flows are disrupted
Volatility continues in the European gas market as Norwegian flows are disrupted Europe In Europe, the month-ahead Title Transfer Facility (TTF) gas price opened the day at around $30 per million British thermal units (MMBtu) 68% down from an all-time high on 26 August, despite the volatility around Nov 15th that briefly took prices to the vicinity of ~$35/Mmbtu.
Winter could soon rear its ugly head, pushing prices up despite healthy storage
Winter could soon rear its ugly head, pushing prices up despite healthy storage Mild weather is keeping US gas markets in equilibrium, but winter nears and cold weather threatens to blanket markets as we get deeper into November. Weekly storage injections rebounded from 52 Bcf to 107 Bcf in the last week of October, a 70% increase compared to the same week last year and nearly four times larger than in 2020 when withdraws of 36 Bcf were reported.
Europe prays for a mild winter as price stabilizing efforts continue
Europe prays for a mild winter as price stabilizing efforts continue [GGP] Europe prays for a mild winter and friends in far flung places – from the US freeport facility to private Chinese companies that may be able to increase LNG exports to Europe during the heating season. Europe itself takes steps to introduce a price gap, but details remain vague, causing markets to continue to take a wait-and-see attitude.
Triple-digit storage injections boost US winter gas outlook [GGP]
Triple-digit storage injections boost US winter gas outlook [GGP] Last week’s underground storage injection of 129 billion cubic feet (Bcf) was the second largest since the US Energy Information Administration (EIA) began reporting weekly storage data in January 2010. This boost in gas stocks resulting from increased domestic supply amid easing demand, means storage levels are now just 8% below the five-year average.
Europe’s winter now in sight, gas markets are snug but by no means cozy [GGP]
Summary Winter is approaching in the northern hemisphere and storage levels are rising across Europe. But supply tightness remains and a harsh winter could push prices higher. by: Rystad Energy Posted in: Complimentary, Natural Gas & LNG News, Europe, Global Gas Perspectives, Market News, News By Country, EU Europe’s winter now in sight, gas markets are snug but by no means cozy [GGP] With Europe’s winter season now in sight, gas markets are snug but by no means cozy.
At the mercy of the winds - European power prices fall further despite gas market volatility [GGP]
At the mercy of the winds - European power prices fall further despite gas market volatility [GGP] European power prices continued to fall last week on strong wind power generation, and an overall fall in gas prices, despite high volatility caused by NS1 and NS2 leaks and potential sabotage. The UK saw an especially large decline in prices, with very high wind speeds over the weekend bringing the average down.
Europe Is Betting Big On Geothermal Energy | OilPrice.com
The European geothermal heating market, at one time dominated by only a handful of countries, is set to experience a purple patch in the coming years as governments scramble to find an affordable alternative to expensive gas-fired heating, Rystad Energy research shows. Total installed capacity is projected to surpass 6.2 gigawatt thermal (GWt) in 2030, a 58% increase from today’s total of 3.9 GWt, developments that are expected to cost an estimated $7.4 billion*.
Nord Stream leaks and Naftogaz sanctions threat weigh on market [GGP]
Nord Stream leaks and Naftogaz sanctions threat weigh on market [GGP] Current energy crisis forces intensified this week with gas market concerns centering around the news of subsea damage that has caused leaks on both the Nord Stream 1 and Nord Stream 2 pipelines. Gas prices appear like a leaf in the wind, with little indication on how far they will be carried and in what direction.
European power prices continue to decline, but NS1 leaks add to uncertainty [GGP]
Summary European power prices continue to decline, with average September rates dropping more than 20% compared to August, returning to July levels.
Winter looms over the US gas market, high prices likely to persist [GGP]
Winter looms over the US gas market, high prices likely to persist [GGP] It’s an understatement to say that US gas markets have had a whirlwind year - but the rollercoaster ride is far from over as winter beckons. Market participants have been forced to adapt their strategies in response to rising demand, geopolitical complications and supply bottlenecks.
EU revenue cap helps consumers, but may end up capping Europe’s renewable energy ambitions
EU revenue cap helps consumers, but may end up capping Europe’s renewable energy ambitions [GGP] The European Union’s emergency measures to tackle the region’s energy crisis may fall short of their intended goals, at least where renewable energy ambitions are concerned, according to Rystad Energy research.
EU takes unprecedented step with 5-10% cut in power demand and redistributing €142bn in energy profits
EU takes unprecedented step with 5-10% cut in power demand and redistributing €142bn in energy profits [GGP] The EU Commission on 14 September proposed a plan that would pull in €142 billion in windfall profits earned by power and fossil fuel companies and redistribute it to hard-pressed consumers who have seen their power costs multiply in recent months. At the same time, the European Union aims to cut power use through a mandatory 5% reduction in peak-hour demand.
European gas and power prices fall on EU market intervention uncertainty [GGP]
European gas and power prices fall on EU market intervention uncertainty [GGP] European gas and power prices continued to fall last week due to uncertainty on how the potential EU market intervention will impact the market. The largest fall can be found in the UK, with a large decline of 43% last week compared to two weeks earlier, with an average of €343 per MWh. This large fall has been caused by lower gas prices in addition to stronger wind supply in the UK and on the continent.
European power prices remain elevated while blackout looms in California [GGP]
European power prices remain elevated while blackout looms in California [GGP] While August power prices were the highest of all-time in Europe, the EU is considering passing legislation to curb the effects on consumers. Peak power prices were recorded as high as €1,500 per megawatt-hour; prices such as this are not sustainable.
Spurred by the energy crisis, global LNG investments will now peak at $42 billion in 2024, a 50% jump from current spending
Summary As the global energy crisis deepens and countries scramble to secure reliable energy sources, investments in new liquified natural gas (LNG) infrastructure are set to surge, reaching $42 billion annually in 2024.
Russia's influence on gas prices extends beyond Europe
Russia's influence on gas prices extends beyond Europe Gas and liquefied natural gas (LNG) prices have surged worldwide, breaking previous record highs set right after the outbreak of conflict in Ukraine in late February. In Europe, the tumultuous situation surrounding the Nord Stream 1 gas pipeline has again reared its head, with a sudden maintenance announced for the end of August.
Bouncing back: High-impact well activity set to rebound this year after 2021 slump [GGP]
Bouncing back: High-impact well activity set to rebound this year after 2021 slump [GGP] Drilling of high-impact oil and gas prospects is set to rebound this year after a disappointing 2021, when success rates plunged towards record lows, Rystad Energy research shows. These critical wells have found hydrocarbons 47% of the time so far this year, up from a measly 28% for 2021.
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