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Global oil and gas investment will reach $628 billion this year, compared with $602 billion in 2021, due to higher spending on upstream natural gas and LNG projects, Rystad Energy said
.
Rystad Energy said six LNG projects will come online in North America this year, while major exporter Qatar is also planning to expand LNG production capacity
.
While Omicron-related supply disruptions could limit short-term energy demand in key crude consuming sectors such as transportation and aviation, the overall outlook for oil and gas is bright as the economy recovers
.