Global natural gas capacity set to expand 10% in next 5 years

Global natural gas and LNG storage capacity in import markets is expected to expand by 10%, or 45 billion cu m (bcm), during the 2023-2028 period, largely supported by projects in China, Europe,and Eurasia, the International Energy Agency (IEA) said in its latest Quarterly Gas Market Report.

Within this period, there is an anticipated increase of over 35 bcm in underground gas storage (UGS) capacity. Notably, more than 75% of this added capacity will come from porous reservoirs such as aquifers and depleted fields. LNG storage capacity associated with regasification terminals is expected to increase by close to 10 bcm over the forecast period.

Valeura Energy Inc (TSX:VLE) is an upstream oil & gas company, with a clear strategy to add value for shareholders. The Company has a strong balance sheet positioning it for potential inorganic growth opportunities in the near/medium-term, and substantial longer-term upside potential through an operated deep, tight gas play. 

Click to view all articles for the EPIC:
Or click to view the full company profile:
Facebook
X
LinkedIn
Valeura Energy

More articles like this

DirectorsTalk

Valeura Energy sees successful oil production growth

Valeura Energy Inc. has reported a significant milestone in the ramp-up of oil production at its Nong Yao C development, located in Licence G11/48, offshore in the Gulf of Thailand. The entire Nong Yao complex is

Valeura Energy

Valeura Energy’s Nong Yao C development project

Valeura Energy Inc (TSX:VLE) is an upstream oil & gas company, with a clear strategy to add value for shareholders. The Company has a strong balance sheet positioning it for potential inorganic growth opportunities in the near/medium-term, and

Valeura Energy

Valeura Energy Q2 2024 key highlights and insights

Valeura Energy Inc (TSX:VLE) is an upstream oil & gas company, with a clear strategy to add value for shareholders. The Company has a strong balance sheet positioning it for potential inorganic growth opportunities in the near/medium-term, and

Valeura Energy

Valeura Energy’s role in the natural gas industry

In recent years, natural gas has increasingly been recognised as a pivotal component of the global energy mix. As the world transitions towards cleaner energy solutions, natural gas stands out for its efficiency, reliability, and lower

Valeura Energy

Pioneering innovation in the evolving oil and gas sector

Valeura Energy Inc. operates within the dynamic and increasingly pivotal oil and gas sector, a cornerstone of global energy infrastructure. This industry is currently witnessing a transformative phase, driven by advancements in technology, shifts towards cleaner

Valeura Energy

Valeura Energy completes acquisition of Aurora FSO vessel

Valeura Energy Inc. has successfully completed the acquisition of the Aurora FSO vessel from a subsidiary of the Omni Offshore Terminals group. This vessel is currently stationed at Valeura’s Nong Yao Field development in the Gulf