Editorial Comment

The editors of Hydrocarbon Processing, sister publication to Gas Processing & LNG, will release their “HPI Market Data 2022” annual forecast report in October. This report presents information on global spending and construction projects for the refining, petrochemicals and natural gas sectors, as well as market breakdowns by region and country for each of these industry segments.

In looking at the natural gas/LNG sector, the COVID-19 pandemic has transformed the energy landscape and restructured business priorities. Rather than slowing the energy transition, however, the upheaval caused by the pandemic has fast-forwarded decarbonization efforts by governments and energy supermajors, brought forward the timeline for peak oil demand, fast-tracked the digital transformation in oil and gas, and whetted investor appetites for low-carbon energy technologies.

As the pandemic subsides with greater access to vaccinations, the short-term market volatilities introduced by COVID-19 will give way to more enduring concerns. For fossil fuel producers and processors to survive the business and operational challenges posed by the energy transition—and to take advantage of the opportunities presented by a move toward a greener future—they must apply strategies for emissions reduction, energy efficiency and lower-carbon energy integration. This is particularly true for midstream companies, which deliver the lowest-emissions fossil fuel but find their market shares increasingly challenged by renewable energy.

For in-depth analysis of how these trends will impact global and regional gas/LNG and NGL markets, reserve your copy of the “HPI Market Data 2022” report by visiting store.gulfenergyinfo.com today! GP