Global oil and gas investment volume 2019-2024, by sector
The gas and LNG market is forecast to be the only sector within the oil and gas industry to see an increase in investment volumes. In 2024, gas and LNG investments are expected to rise to 171 billion U.S. dollars, up from 131 billion U.S. dollars in 2021. The forecast comes in light of an energy supply crisis in late 2021, largely due to a gas shortage. A recent decision by the European Union to classify some gas as clean energy within it's Fit for 55 green transition package further cements how some governments continue to rely on this fossil fuel type while also stepping up reductions of coal and oil usage.
