GBI: Oil and Gas Supply Demand Outlook in the Americas to 2020 on reports-research.com
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| North America Crude Oil (Thousand Barrels per Day) and Natural Gas Production, 1996-2020 |
North American Oil and Gas Production to Increase at AAGRs of 2.1% and 0.7%, Respectively, Between 2010 and 2020
North America is expected to witness growth in the production of both oil and gas in the next 10 years. In addition to strong growth in demand, the development of oil and gas shale fields will result in strong growth in oil and gas production from North America. Between 2010 and 2020, North American oil and gas production is forecast to increase at Average Annual Growth Rates (AAGRs) of 2.1% and 0.7%, respectively. Accordingly, the US and Canada will together produce 9,746,000 barrels per day of crude oil and 27,047.9 Bcf of natural gas in 2020.
Brazil to Emerge as the Leading Crude Oil producer in South and Central America surpassing Venezuela and Mexico
By 2015, Brazil will emerge as South and Central America’s largest crude oil producer, surpassing Venezuela and Mexico. With substantial reserves found in offshore waters of Brazil, the country is expected to increase its production by an average of 7.8% per annum. Further, amidst increasing usage of hydroelectricity and ethanol production from sugarcane, the demand for fossil fuels is expected to remain low in Brazil in the medium to long term. Accordingly, most of this production growth is expected to be exported to other nations.
Strong Growth in Natural Gas Demand Forces Mexico to Invest in Construction of Three New LNG Regasification Terminals
Mexico is considering the construction of three new LNG regasification terminals in addition to the existing Energia Costa Azul LNG and Altamira LNG terminals. The country witnessed a strong surge in gas demand in the recent past. This growth in gas demand is mainly fuelled by the increasing number of gas-fired power plants in Mexico. Between 2010 and 2020, the natural gas demand in Mexico is expected to increase at an AAGR of 4.2% while production will decline at a negative AAGR of 0.1%.
GBI: Oil and Gas Supply Demand Outlook in the Americas to 2020 - Increasing Oil and Gas Production Changing the Industry Dynamics:
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