| Oil and Gas Supply -Europe and the Former Soviet | | | | • Norwegian gas production continues to rise |
| Union | | | | rapidly as new fields are developed, in particular the |
| Having witnessed in 2008 the first major signal that | | | | Troll field and the deep water Ormen Lange |
| future conventional oil and gas supplies will become | | | | field, although the latter was downgraded in 2009. |
| much harder to find and more expensive to develop, | | | | New developments in the Barents Sea, including |
| Datamonitor is publishing this analysis of deep water | | | | Snohvit, which ships gas into Europe's first LNG plant, |
| production around the world. As secure energy | | | | are also stemming declines. |
| supplies become increasingly difficult and expensive to | | | | • Global demand is driving investment in Russian |
| extract, an accurate forecast of supply/demand | | | | gas reserves and output is due to grow from all |
| dynamics becomes more important. ( ) | | | | prospective onshore and offshore areas, including |
| Historically, global economic recessions have led to | | | | Sakhalin and the Arctic north. However a global |
| declining energy demand, but the resultant lower | | | | surplus of LNG, recognized in 2009, has delayed many |
| prices have soon led to a recovery in demand and | | | | of these projects, so production will not reach 2008 |
| then prices, especially as OPEC has acted to rein in | | | | levels again until around 2016. |
| output to tighten supply. This trend has already been | | | | • Although foreign investment and new export |
| reflected in the oil markets to some degree. In the | | | | routes are driving oil production, Turkmenistan is |
| gas sector, supplies will be available only if investment | | | | primarily a gas-producing country. It has |
| in infrastructure, above all long-distance pipelines and | | | | some potential in lands adjacent to the Caspian Sea, |
| LNG conversion and receiving plants, is well | | | | but its most significant resources are located in the |
| advanced. | | | | Amu Darya basin in the southeast, where giant fields |
| Key findings and highlights | | | | have been reported. |