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Many LNG Export Projects ‘Not Needed’ in IEA Net-Zero Model

Many LNG Export Projects ‘Not Needed’ in IEA Net-Zero Model

Many of the liquefied natural gas (LNG) export facilities already under construction or in planning will not be needed in the future if the world is to reach net zero greenhouse gas emissions by 2050, the International Energy Agency said in a bombshell report this week. The world’s oil and gas needs in a net…

May 21, 2021
IEA Cautions CO2 Emissions to Spike in 2021 as Global Economy Emerges From Pandemic

IEA Cautions CO2 Emissions to Spike in 2021 as Global Economy Emerges From Pandemic

Carbon dioxide (CO2) emissions are poised to soar in 2021 as energy use mounts alongside global economic momentum, the International Energy Agency (IEA) said in a report Tuesday. The Paris-based energy watchdog estimated that emissions would spike by 1.5 billion metric tons/year. It would mark the second-biggest increase on record and more than reverse the…

April 21, 2021
Asian Industrials Seen Driving 3.2% Rise in Global Natural Gas Demand This Year

Asian Industrials Seen Driving 3.2% Rise in Global Natural Gas Demand This Year

Consumption in the industrial sector is expected to drive a 3.2% year/year (y/y) increase in global natural gas demand during 2021, according to a second quarter Gas Market Report published by the International Energy Agency (IEA). This compares with a 2.8% increase forecast in the 1Q2021 report, IEA’s inaugural offering in the series. The projected…

April 15, 2021
As Temperatures Fall, Cash Prices Advance and May Natural Gas Futures Tread Water

As Temperatures Fall, Cash Prices Advance and May Natural Gas Futures Tread Water

Natural gas futures traded in the green much of Wednesday, lifted by colder weather trends that pointed to increased heating demand through the second half of April. Near-record liquefied natural gas (LNG) levels continued to provide price support as well. But a sixth-straight day of gains proved elusive as traders took profits late in the…

April 14, 2021
U.S. Petroleum Inventories Drop Again; Expectations Mount for Another Pull Following Texas Freeze

U.S. Petroleum Inventories Drop Again; Expectations Mount for Another Pull Following Texas Freeze

Domestic crude oil inventories dropped substantially for a second straight week for the week ended Feb. 12, the U.S. Energy Information Administration (EIA) said Thursday, as demand increased and production declined. Analysts said the surge in frigid weather that blasted the nation’s midsection this week and upended daily life in Texas – where energy infrastructure…

February 18, 2021
Oil Demand Recovery Expected by late 2021, Production Could Follow, New Forecasts Show

Oil Demand Recovery Expected by late 2021, Production Could Follow, New Forecasts Show

The recovery in global oil demand will limp along early in 2021 but should quicken in the second half of the year, as coronavirus vaccine distribution efforts make headway and travel increases, both the International Energy Agency (IEA) and the Organization of the Petroleum Exporting Countries, aka OPEC, said in new forecasts this month.  In…

February 16, 2021
IEA Mapping Global Route for Energy Operators, Governments to Reach Net-Zero Emissions by 2050

IEA Mapping Global Route for Energy Operators, Governments to Reach Net-Zero Emissions by 2050

The world’s first comprehensive roadmap for the energy sector, designed to help governments and companies reach net-zero emissions by 2050, is set to be issued later this year as climate change issues dominate, according to the International Energy Agency (IEA). The global energy watchdog said the report, to be issued in May, would “set out…

January 11, 2021
IEA, OPEC Each Lower Estimates for Global Oil Demand, Citing Weak Transportation Fuel Consumption

IEA, OPEC Each Lower Estimates for Global Oil Demand, Citing Weak Transportation Fuel Consumption

Demand for transportation fuel remains weak amid a still-raging global pandemic, forcing downward revisions to oil consumption for 2020 and next year. The International Energy Agency (IEA) said Tuesday in its Oil Markets Report for December that it lowered its demand estimate for this year by 50,000 b/d and its projection for next year by…

December 15, 2020
‘Unprecedented Collapse’ in Transportation Propels Slump in Oil Consumption, Says IEA

‘Unprecedented Collapse’ in Transportation Propels Slump in Oil Consumption, Says IEA

Amid the upheaval imposed by the coronavirus pandemic, 2020 global energy consumption in the transportation sector is forecast to decrease 10% year/year, led lower by an 11% drop in oil consumption, the International Energy Agency (IEA) said Thursday. This decline is expected to account for nearly two-thirds of the total expected year/year pullback in oil…

December 3, 2020
Global Natural Gas Consumption Facing ‘Historic Shock’ in 2020, with Demand Set to Fall by 4%

Global Natural Gas Consumption Facing ‘Historic Shock’ in 2020, with Demand Set to Fall by 4%

The pandemic and a mild winter in the northern hemisphere have delivered a “historic shock” to the global natural gas market, with consumption set to decline in 2020 by twice the amount lost after the 2008 financial crisis, the International Energy Agency (IEA) said Wednesday.

June 10, 2020
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