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2014 Oil and Gas Industry Predictions

06/01/2014
2014 Oil and Gas industry predictionsAs the beginning of 2014 dawns, we can look back and say 2013 was certainly an eventful and exciting year for the oil and gas industry and we think this is set to continue this year.

We’ve already written about how the industry has changed above all expectation over the last ten years, but what will 2014 bring?
 
Markets in Australasia and South East Asia Expand
In Australia, Liquefied Natural Gas (LNG) will continue to be explored as a practical and greener fuel alternative. There are seven schemes under development at the moment in Western Australia and Queensland and LNG has already received an amazing £200 billion of investment there. The rest of the world will be eagerly watching to see how LNG will shape the future of global energy.

Whilst South East Asia is expecting a prosperous year, in particular, the opening up of Myanmar through the awarding of a batch of major offshore exploration licenses will expedite numerous new opportunities. Papua New Guinea is also likely to continue to see growth with new discoveries of oil reserves becoming more and more frequent, whilst Singapore is likely to remain experiencing high levels of demand.
 
EMEA Continues to Boom
In Europe, the Middle East and Africa, we expect to see continued prosperity with growing levels of industry in Angola, Ghana and Tanzania. The Middle East is also likely to be a force to be reckoned with - Libya is hoping to bring barrels to market again and Iraq is also planning on ramping up its exports.

UK Opens Up New Avenues for Growth
2014 will be the year that the UK moves more towards shale gas with the British Government giving out the next round of exploration licenses this year. The building of the first nuclear power plant for 20 years also heralds a new period of growth, creating 25,000 jobs and going some way to beginning to tackle the current engineering skills shortage.

Shale Gas Spearheads Continued US Development
The shale gas revolution will grow as the USA continues to embrace it. The US could even become energy self-sufficient by 2015, causing huge shifts in the way the global energy market operates. It could also be responsible for an increase in not only the production of natural gas, but also oil. With this increase comes a growth in the number of new opportunities available to work in the sector, which is expected to continue to grow over the coming year.

So, there you have our top predictions for 2014. Let us know if you agree, disagree or if there’s something you feel should be included. Likewise, if you’re interested in making a new start with a new job in 2014, please browse our current opportunities here.

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