Global Gas Deals, Long-Term Forecasts Highlight Midday Energy Landscape

Analysts at BMI have projected the evolution of global oil and gas markets through to 2050, according to a report sent to Rigzone Tuesday. The long-term forecast provides a strategic backdrop for Bakken operators considering future investment and production timelines in North Dakota's premier shale play.

In other international developments, Perenco and its partners have inked a gas sales agreement for the Su Tu Trang Phase 2B project in Vietnam. The project will supply more than 600 billion cubic feet of gas over its life, supporting growing energy demand in Southeast Vietnam and contributing to the country's energy security, Rigzone reported.

Separately, Uzbekistan is stepping up efforts to bring major European and U.S. energy companies into its natural gas sector, Rigzone noted. This follows the country securing an investment from BP last month.

For the Bakken formation, these international movements underscore a competitive and evolving global gas market. While the Williston Basin is primarily an oil-focused region, associated natural gas production remains a significant factor, with operators continuously working on infrastructure and flaring reduction mandates. Major long-term forecasts, like the one from BMI, can influence capital allocation decisions as companies balance short-term Bakken drilling with decades-long energy transition scenarios.

The pursuit of international gas investments by countries like Uzbekistan also highlights the global demand for natural gas resources, which could indirectly support the economics of U.S. LNG exports. Bakken gas, while largely consumed domestically, operates within this broader pricing and demand environment.