* Companies' spending cuts per region -Woodmac
tmsnrt.rs/3bAnUf1
* Non-shale FIDs seen plummeting to 2015 levels -Woodmac
tmsnrt.rs/2S4gkBC
* Estimated future output shrinkage -Rystad
tmsnrt.rs/2Kx6lAQ
* Delayed non-shale projects worth $195 bln by region
-Rystad
tmsnrt.rs/2YdpCiT
By Shadia Nasralla
LONDON, April 24 (Reuters) - Global oil supplies may be 6%
less than expected by 2030 because of delays to investments by
energy companies in response to falling crude prices due to the
coronavirus crisis, data from energy analysts at Rystad showed.
Oil and gas companies across the world have slashed
investment budgets, exiting projects or delaying bringing them
onstream to counter a fall in crude prices to record lows due to
a supply glut as the coronavirus outbreak destroyed demand.
For a Factbox on oil and gas companies cutting budgets,
click
Delayed final investment decisions (FID) for projects which
take years to come on stream are already expected to shrink
global supply of oil and gas by 5.6% by 2025, with the majority
of the revisions coming from shale oil, mostly found in the
United States, Rystad said.
Continental Resources, the largest oil producer in
North Dakota has halted most of its production in the U.S. state
and notified some customers it would not supply crude after
prices dived into negative territory this week, people familiar
with the matter said.
All this leaves the global oil and gas supply on track to
drop off by 6.3% by 2030 compared with what was expected before
the price crash, the Rystad data showed.
It estimates that $195 billion worth of non-shale projects
are being delayed, most of which are gas and gas condensate
field developments. Geographically the biggest slump is in the
Middle East in that group.
Excluding the North American shale sector, energy analysts
at Wood Mackenzie (Woodmac) reckon only about 10-15 large
upstream projects have a "reasonable chance" of receiving a
final investment green light this year, a level last seen during
the post-2014 oil price crash.
That compares with around 50 projects tapping reserves of
over 50 million barrels of oil equivalent each which had been
pencilled in for a final investment decision this year before
oil prices plummeted, according to Woodmac.
Liquefied natural gas (LNG) projects are also suffering.
"2020 was also set to be the record high year for LNG
developments. The price crash and dip in global LNG demand
delays FID of 7 LNG plants globally," Rystad analysts said in
their report.
Royal Dutch Shell even went so far as to completely
exit its major Lake Charles LNG in the United States.
(Reporting by Shadia Nasralla; Editing by Emelia
Sithole-Matarise)
