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BMI View: Denmark is hoping to avoid becoming an oil and gas importer for another few years, despite declining production. The government is confident the country will sustain its position as a net exporter of oil and gas until the end of the decade, with some recovery in volumes likely over the medium term. Over the longer term, shale gas could play an important role in boosting supply, but environmental concerns may slow the rate of progress.
The main trends and developments in Denmark's oil & gas sector are:
Total's November 2012 announcement that it will drill a shale gas well before the end of the year marked the first significant move to tap Denmark's shale gas potential. The well, to be drilled in the 'next few weeks' (from the time of the announcement), will target the North Jutland basin, part of what the EIA estimates may be some 644bn cubic metres (bcm) of recoverable shale gas resources in Denmark.
The Denmark Energy Agency (DEA) figures suggest that FY2012 gas production will have been 4% lower than in 2011, with a further decline expected in 2013, before volumes stabilise and begin to recover in 2014/2015. DEA projections show that Denmark is expected to be a net exporter of sales gas in the 11 years up to and including 2022, based on the expected production profile. However, by 2013, the output surplus is likely to be very modest. For gas, the development of new well technology and new discoveries may allow Denmark to maintain its position as a net exporter beyond 2030.
BMI View: Denmark is hoping to avoid becoming an oil and gas importer for another few years, despite declining production. The government is confident the country will sustain its position as a net exporter of oil and gas until the end of the decade, with some recovery in volumes likely over the medium term. Over the longer term, shale gas could play an important role in boosting supply, but environmental concerns may slow the rate of progress.
The main trends and developments in Denmark's oil & gas sector are:
Total's November 2012 announcement that it will drill a shale gas well before the end of the year marked the first significant move to tap Denmark's shale gas potential. The well, to be drilled in the 'next few weeks' (from the time of the announcement), will target the North Jutland basin, part of what the EIA estimates may be some 644bn cubic metres (bcm) of recoverable shale gas resources in Denmark.
The Denmark Energy Agency (DEA) figures suggest that FY2012 gas production will have been 4% lower than in 2011, with a further decline expected in 2013, before volumes stabilise and begin to recover in 2014/2015. DEA projections show that Denmark is expected to be a net exporter of sales gas in the 11 years up to and including 2022, based on the expected production profile. However, by 2013, the output surplus is likely to be very modest. For gas, the development of new well technology and new discoveries may allow Denmark to maintain its position as a net exporter beyond 2030.
BMI Industry View
SWOT
Industry Forecast
Table: Denmark Proven Oil & Gas Reserves And Total Petroleum Data - Historical Data And Forecasts, 2011-2016
Table: Denmark Proven Oil & Gas Reserves And Total Petroleum Data - Long-Term Forecasts, 2017-2022
Table: Denmark Oil Production, Consumption And Net Exports - Historical Data And Forecasts, 2011-2016
Table: Denmark Oil Production, Consumption And Net Exports - Long-Term Forecasts, 2017-2022
Table: Denmark Gas Production, Consumption And Net Exports - Historical Data & Forecasts, 2011-2016
Table: Denmark Gas Production, Consumption And Net Exports - Long-Term Forecasts, 2017-2022
Table: Denmark Refining Production And Consumption - Historical Data & Forecasts, 2011-2016
Table: Denmark Refining Production And Consumption - Long-Term Forecasts 2017-2022
Industry Risk Reward Ratings
Denmark O&G Risk Reward Ratings
Developed States - Risk/Reward Ratings
Table: Oil & Gas Upstream Risk/Reward Ratings
Looking Downstream
Table: Oil & Gas Downstream Risk/Reward Ratings
Upside Potential
Table: Developed States Oil & Gas Risk/Reward Ratings
Market Overview
Denmark Energy Market Overview
Table: Upstream Projects Database
Oil & Gas Infrastructure
Table: Table: Refineries In Denmark
Competitive Landscape
Table: Key Players - Danish Oil And Gas Sector
Table: Key Upstream Players
Table: Key Downstream Players
Company Profile
DONG Energy
Royal Dutch Shell
Other Companies - Summary
Regional Overview
Developed States Energy Market Overview
Global Industry Overview
Global Energy Market Overview
Table: BMI's Oil Price Forecasts & Bloomberg Analyst Consensus, Average Price (US$/bbl)
Table: Global Oil Demand Forecasts
Appendix
Developed Europe - Regional Appendix
Table: Oil Consumption - Historical Data & Forecasts, 2010-2017 ('000b/d)
Table: Oil Consumption - Long-Term Forecasts, 2014-2021 ('000b/d)
Table: Oil Production - Historical Data & Forecasts, 2010-2017 ('000b/d)
Table: Oil Production - Long-Term Forecasts, 2014-2021 ('000b/d)
Table: Refinery Capacity - Historical Data & Forecasts, 2010-2017 ('000b/d)
Table: Refining Capacity - Long-Term Forecasts, 2014-2021 ('000b/d)
Table: Gas Consumption - Historical Data & Forecasts, 2010-2017 (bcm)
Table: Gas Consumption - Long-Term Forecasts, 2014-2021 (bcm)
Table: Gas Production - Historical Data & Forecasts, 2010-2017 (bcm)
Table: Gas Production - Long-Term Forecasts, 2014-2021 (bcm)
Table: LNG Gas Imports (Exports) - Historical Data & Forecasts, 2010-2017 (bcm)
Table: LNG Gas Imports (Exports) - Long-Term Forecasts, 2014-2021 (bcm)
Glossary
Table: Glossary Of Terms
Methodology
Energy Industry
Cross checks
Sources
SWOT
Industry Forecast
Table: Denmark Proven Oil & Gas Reserves And Total Petroleum Data - Historical Data And Forecasts, 2011-2016
Table: Denmark Proven Oil & Gas Reserves And Total Petroleum Data - Long-Term Forecasts, 2017-2022
Table: Denmark Oil Production, Consumption And Net Exports - Historical Data And Forecasts, 2011-2016
Table: Denmark Oil Production, Consumption And Net Exports - Long-Term Forecasts, 2017-2022
Table: Denmark Gas Production, Consumption And Net Exports - Historical Data & Forecasts, 2011-2016
Table: Denmark Gas Production, Consumption And Net Exports - Long-Term Forecasts, 2017-2022
Table: Denmark Refining Production And Consumption - Historical Data & Forecasts, 2011-2016
Table: Denmark Refining Production And Consumption - Long-Term Forecasts 2017-2022
Industry Risk Reward Ratings
Denmark O&G Risk Reward Ratings
Developed States - Risk/Reward Ratings
Table: Oil & Gas Upstream Risk/Reward Ratings
Looking Downstream
Table: Oil & Gas Downstream Risk/Reward Ratings
Upside Potential
Table: Developed States Oil & Gas Risk/Reward Ratings
Market Overview
Denmark Energy Market Overview
Table: Upstream Projects Database
Oil & Gas Infrastructure
Table: Table: Refineries In Denmark
Competitive Landscape
Table: Key Players - Danish Oil And Gas Sector
Table: Key Upstream Players
Table: Key Downstream Players
Company Profile
DONG Energy
Royal Dutch Shell
Other Companies - Summary
Regional Overview
Developed States Energy Market Overview
Global Industry Overview
Global Energy Market Overview
Table: BMI's Oil Price Forecasts & Bloomberg Analyst Consensus, Average Price (US$/bbl)
Table: Global Oil Demand Forecasts
Appendix
Developed Europe - Regional Appendix
Table: Oil Consumption - Historical Data & Forecasts, 2010-2017 ('000b/d)
Table: Oil Consumption - Long-Term Forecasts, 2014-2021 ('000b/d)
Table: Oil Production - Historical Data & Forecasts, 2010-2017 ('000b/d)
Table: Oil Production - Long-Term Forecasts, 2014-2021 ('000b/d)
Table: Refinery Capacity - Historical Data & Forecasts, 2010-2017 ('000b/d)
Table: Refining Capacity - Long-Term Forecasts, 2014-2021 ('000b/d)
Table: Gas Consumption - Historical Data & Forecasts, 2010-2017 (bcm)
Table: Gas Consumption - Long-Term Forecasts, 2014-2021 (bcm)
Table: Gas Production - Historical Data & Forecasts, 2010-2017 (bcm)
Table: Gas Production - Long-Term Forecasts, 2014-2021 (bcm)
Table: LNG Gas Imports (Exports) - Historical Data & Forecasts, 2010-2017 (bcm)
Table: LNG Gas Imports (Exports) - Long-Term Forecasts, 2014-2021 (bcm)
Glossary
Table: Glossary Of Terms
Methodology
Energy Industry
Cross checks
Sources
