Gas Production Development

Global Gas Supply and Production Developments

The impetus to trigger new projects to optimize global gas production relate to concerns over meeting elevated demand and easing energy prices. Australia continues to fortify its global gas production initiatives. Currently, Africa is emerging as a strong contender in the sector.

There are growing concerns over the current global energy demand, particularly vis-à-vis gas consumption. This has stimulated considerable developments worldwide to formulate measures to optimize global gas production.

Conserving this natural source of energy, namely gas, has gained momentum. Gas is formed mainly as a result of the decaying of organic and inorganic materials. For varied energy related needs across the world, gas as a fossil fuel can be broadly categorized into two major components, namely natural gas and biogas. Both these facilitate a host of applications pertaining to power generation, aviation, fertilizers and automobiles.

Chevron Corporation, which is a leading player amidst integrated energy companies, indicated plans for major offshore extension at its Lago gas field. The expansion plans include significant investments across projects in Australia. This is meant to facilitate the discovery of new natural gas sources. Sustaining the development of these new sources is being considered a priority in order to enable higher capability in the natural gas production sector.

Chevron’s projects related to global gas production include the proposed Gorgon and Wheatstone projects and the Barrow Island and Thevenard Island oil fields. Chevron Australia is also a founding partner in the North West Shelf Venture and a significant investor in the Browse LNG development.

Chevron is also working to harness natural gas reserves in Venezuela. Recently, the Platfroma Deltana project was launched to sign off explorations from the Venezuela coast. These explorations revealed a large bank of natural gases in the area.

Africa’s recent endeavors in the global gas industry are largely attributable to Angola’s ambitious projects in the gas production sector, particularly in the LNG sector. Still in its infancy stage, the Angola LNG project will include the construction of an LNG production plant, nearly 350 kilometers north from Luanda. This proposed plant is expected to generate almost 5.2 million tones annually.

Egypt’s Taurt Project is currently being operated by Gulf of Suez Petroleum Co. Gas production commences in July 2008. As part of the country’s subsea development program, the successful beginning of gas production from the Mediterranean Sea is definitely a new milestone in global gas production.

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