“Sustainability is higher than ever on the business agenda,” states Juliette Sanders, head of media at Ørsted, and it now makes business sense.
It is expected that many of the gas discoveries will help displace oil as a source of more sustainable fuel in the regional mix.
Current market conditions are resulting in many US fracking projects failing to break even.
Some industry insiders have doubts about whether there is sufficient contractor capacity to deal with the expected volume of business.
Even if all OPEC members and Russia were to comply 100 percent, global oil inventories could still rise by 700,000 b/d in 1Q 2020.