According to an IEA report, global gas demand is predicted to increase at a rate of 1.6% a year till 2024. Mainly fueled by China, over 30% of the consumption will be driven by the emerging economy.
To deal with long-standing air pollution in urban areas, Chinese government is actively pushing an energy switch from coal to gas, which can be the major impetus for gas development.
On the global scale, demand growth in the U.S. will be climbing by more than 10% as the IEA director for Energy Markets & Security, Keisuke Sadamori said. In Europe, the supply gap will widen to reach 336 bcm by 2024, increasing by nearly 50 bcm per year as domestic production continues declining with the phasing out of Groningen field in the Netherlands and North Sea depletion.
Consequently, global oil & gas giants are endeavoring to keep up with the inevitable trend by taking some actual actions.
Shell announced on June 6 that its subsidiary in Nigeria has increased gas distribution by 150% to cater to the booming demand brought by Agbara-Ota Capacity Increase Project. And Total agreed to takeover Toshiba’s portfolio of LNG, which is in line with the former’s strategy to become a major LNG portfolio player.
Back to Chinese market, Sinopec recently signed agreements with Novatek and Gazprombank from Russia to establish joint venture for LNG sales. It will be an effective move to turn Sinopec’s investment on Artic LNG projects into actual cash flows in China.
Meanwhile, CNPC released it plan to build 23 gas storage facilities and expand 10 existing ones by 2030, whose capacity is going to exceed 15 billion m3.
Jereh, a global player in oil and gas industry, has the strategic layout and strength spanning the industry chain from oilfield technical services, well service equipment, surface engineering, to oil and gas processing, treatment, storage and transportation as well as gas fueling and combined energy utilization.
Jereh Natural Gas Industrial Park Overview
Stepped into oilfield industry as early as in 2000, Jereh has earned recognition from clients and partners worldwide, with one-stop services in the field of design, equipment supply, construction, installation, commissioning operation, after-sales service as well as operation management.
Earlier in January, 2019, Jereh truck mounted electric-driven screw compressor package was delivered to Russia market for wellhead associated gas boosting and re-injection instead of burning it away. In April, Jereh and OGDCL (Oil & Gas Development Company Limited) signed an EPC contract of Nashpa compression project in Pakistan, to restore production capability of oil & gas fields caused by pressure depletion and guarantee stable recovery of LPG. The total capacity is projected to reach 98.48 MMSCFD.
Jereh Truck Mounted Electric-driven Screw Compressor Package on their way to Russia
"We help our customers unlock the full value of their oil and gas assets. Our approach to delivery is flexible and tailored. We can design, manufacture, build and operate oil and gas facilities, to meet the project objectives”, said Mr. Forrest Wang, Vice President of Jereh Group.
