NORTH ASIA

(The Asia-Pacific)

 

POPULATION:  mm

AREA (on):  km2

OIL PEAK:  (forecast)

 

SUPPLY

The bulk of oil and gas production in North Asia comes from China. Onshore output has reached a plateau. Its old giant fields are struggling to maintain output whilst offshore production grows.

Again the bulk of gas production comes from China. Gas reserves in the interior of the country are relatively undeveloped. With demand picking up and new East-West gas pipelines, considerable growth in onshore output is forecast, along with growth in offshore output as new fields are exploited in the South China Sea.

 

DEMAND

Growth in oil consumption in China was the driving force behind rising oil prices from 2003. High growth is forecast to continue to 2017 as China massively increases its automobile population, albeit easing off through 2009 as a result of the North American and European recession.

Chinese oil imports along with those into the other economies of North Asia make these countries the biggest importers in the world bar the USA. Rapid growth is forecast from 2010 into China, only slowing near the end of the decade.

Gas imports will also increase but less rapidly, with new supplies coming chiefly from the former Soviet Union, Southeast Asia and Australasia in both piped and LNG form.

 

This is a simple forecast - detailed forecasts including offshore and onshore, deep water splits, sedimentary basins and major fields and drilling etc. can be purchased for most countries.

 

 

 

 

An onshore and offshore oil and gas production, consumption and drilling activity forecast report on this region can be commissioned,

including all relevant charts. Contact us for price and contents list.

 

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