Global data, a leading data and analysis company, said the final investment decision (FID) planned for 2020 for the entire oil and gas value chain would focus on natural gas development.

According to the company's report "final investment decision of global oil and gas industry in 2020", this year's FID for upstream and midstream industries mainly focuses on natural gas and liquefied natural gas (LNG). This includes projects in major LNG exporting countries in Australia and Qatar, as well as projects in key growth regions in North America and Africa.

In the downstream sector, the development of new projects is expected to focus on the petrochemical sector rather than the refineries. Demand growth centers in India and China contribute the most projects, but FIDS in the United States and Russia also have many new development goals.

The impact of natural gas on the industry is further demonstrated by the new petrochemical capacity plan in the United States. The shale gas boom has provided cheap ethane feedstock and driven rapid economic growth after years of stagnation.

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