Equinor: Global gas demand to grow by 10% towards 2030

23 February 2019 15:39 (UTC+04:00)

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Norway’s Equinor sold natural gas for around $26 billion in total in 2018, an increase of 29 percent from 2017, Trend reports citing the company.

As more countries prepare for the energy transition, Equinor sees strong market opportunities for gas and expects global demand to grow by around 10 percent towards 2030, reads a message from Equinor.

The company said in an energy scenario consistent with the 2-degree climate target, global gas demand would only be slightly lower than today even in 2050.

"That entails massive needs for investment in future gas supply in the decades to come. Equinor is actively exploring for gas on the Norwegian continental shelf," said the message.

In 2018, Equinor sold a total of 100 bcm of gas worldwide.

"Changing markets also introduce new commercial opportunities on the trading side. As more liquified natural gas (LNG) and intermittent renewables enter the market, Equinor is preparing to capitalize on increased price volatility."

"The traded gas markets are developing rapidly and a key to success will be agility and ability to respond quickly to price fluctuations. The demand for shorter dated indices is increasing and our response is to reflect this development in our trading," says Tor Martin Anfinnsen, Equinor’s senior vice president for marketing and trading.

Equinor is an international energy company present in more than 30 countries worldwide, including several of the world’s most important oil and gas provinces.

It is the leading operator on the Norwegian continental shelf and has substantial international activities. Equinor is engaged in exploration, development and production of oil and gas, as well as wind and solar power. The company sells crude oil and is a major supplier of natural gas, with activities in processing, refining, and trading.

Azerbaijan is one of Equinor’s largest and longest-standing international commitments. It has been operating in Azerbaijan since 1992 and is one of the largest foreign investors. Today Equinor has an interest in the Azeri-Chirag-Gunashli (ACG) oil field, as well as the Baku-Tbilisi-Ceyhan (BTC) pipeline.

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