With oil demand projected to flatten within the next 10 years as the world transitions to a cleaner energy future, major oil companies are doubling down on natural gas but are challenged with raising its profitability and competitiveness. Upcoming liquefied natural gas projects have a weighted average internal rate of return of about 13%, compared with 20% for deepwater developments and 51% for unconventional oil projects, reports Wood Mackenzie.
Oil majors embark on quest to make natural gas more profitable
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