GlobalData report: Malaysia to lead global offshore natural gas production from upcoming projects in 2025
Malaysia is expected to contribute about 12%, or 3.1 billion cu ft (bcf), of global natural gas production in 2025 from key offshore planned and announced projects that are expected to start operations between 2021 and 2025, according to a new report from GlobalData.
The report, “Global Offshore Upstream Development Outlook, 2021–2025,” states that 2.0 bcf of natural gas production in Malaysia in 2025 is expected from planned projects with identified development plans, while 1.0 bcf is expected from early-stage announced projects that are undergoing conceptual studies and are expected to get approval for development. A total of 19 natural gas projects are expected to start operations in Malaysia during 2021-2025. Of these, Kasawari, Jerun and B14 are key projects that are expected to collectively contribute about 50% of the natural gas production in the country in 2025.
Effuah Alleyne, Oil & Gas Senior Analyst at GlobalData, commented: “The oil and gas industry has seen trends shifting towards the need for power sustainability, supported by impacts of the pandemic and governments globally contending with environmental and economic issues. Key themes including renewable energy, decarbonization and clean energy mean that natural gas projects will provide high valued opportunities in the short to mid-term.”
GlobalData identifies Iran as the second-highest country globally, with 2.70 bcf of natural gas production in 2025, or about 11% of the total global natural gas production in the year. Qatar follows, with natural gas production of 2.67 bcf from planned and announced offshore projects in 2025.
Among companies, Qatar Petroleum, National Iranian Oil Co and Shell lead globally with the highest offshore natural gas production of 2.6 bcf, 2.4 bcf and 1.2 bcf, respectively, in 2025 from planned and announced projects.