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Oil and Gas Supply Demand Outlook in Asia Pacific to 2020 - Growing Appetite for Oil and Gas
Oil and Gas Supply Demand Outlook in Asia Pacific to 2020 - Growing Appetite for Oil and Gas
Asia Pacific Oil and Gas Demand to Increase at AAGRs of 1.5% and 4.3%, Respectively, Between 2010 and 2020
London,
London,
United Kingdom
(prbd.net)
20/07/2010
"Oil and Gas Supply Demand Outlook in Asia Pacific to 2020 - Growing Appetite for Oil and Gas Changing the Global Consumption Outlook"
Asia Pacific’s natural gas demand is forecast to grow strongly between 2010 and 2020. During this period, natural gas demand is expected to grow at an AAGR of 4.3%, largely driven by demand growth in China and India. Crude oil consumption is also expected to witness considerable growth of 1.3% on average per year in the same period. This strong growth of oil and gas demand will provide the impetus for huge investments in the midstream and downstream sectors of Asia Pacific in the next decade.
China will remain the leading crude oil producer in Asia Pacific despite declining production. China’s crude oil production is expected to decline at an average annual rate of 3.7% between 2010 and 2020. Despite its production declining at such an alarming rate, the country will produce more than thrice that of the next largest producer, Malaysia, in 2020.
India will emerge as the second largest crude oil consumer in Asia Pacific by 2013. Currently, India is the third largest oil consumer in Asia Pacific after China and Japan. Driven by strong growth in GDP, India is expected to witness the largest oil consumption growth rate in Asia Pacific between 2010 and 2020. On the other hand, Japanese crude oil consumption will decline at an average annual rate of 0.7% in the same period.
GBI Research’s new report, “Oil and Gas Supply Demand Outlook in Asia Pacific to 2020 - Growing Appetite for Oil and Gas Changing the Global Consumption Outlook”, provides an in-depth analysis of the oil and gas supply and demand outlook in Asia Pacific and highlights the various concerns, shifting trends and concerns in Asia Pacific’s oil and gas market. The report provides forecasts for the crude oil production and consumption sectors of the oil and natural gas industry to 2020. The report also provides segmental forecasts of the crude oil and natural gas trade balance in Asia Pacific and highlights the major countries in the region. The report discusses the regulatory structure and infrastructure in the different countries in the region. The report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GBI Research’s team of industry experts.
Visit our report store: http://www.gbiresearch.com
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