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Oil

The Denmark oil & gas market is expected to expand at a CAGR of more than 0.7% during the forecast period, 2021-2028. The growth of the market is attributed to increasing energy demand and ongoing offshore exploration and production projects in the country.

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Oil

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  1. Oil & Gas Market - Denmark Industry Analysis, Size, Share, Growth, Trends, and Forecast The Denmark oil & gas market is expected to expand at a CAGR of more than 0.7% during the forecast period, 2021-2028. The growth of the market is attributed to increasing energy demand and ongoing offshore exploration and production projects in the country. The oil & gas industry includes three major operations that are upstream, midstream, and downstream. The wholesome process involves extraction process, storage, and refining of the petroleum products. The energy consumption associated with oil and gas production has remained fairly constant in recent years, accounting for about 4% of Denmark’s total gross energy consumption, even though production has declined over the years. Denmark has a manifest interest to recover maximum amount of oil & gas from the North Sea. This required great amount of financing as extraction requires high energy-intensive recovery methods. The production of oil and natural gas from the North Sea is key for Danish society and it secures substantial income for the state. The production of oil and gas also positively impacts the Danish balance of payments. The department of economic affairs (DEA) recent forecast shows that Denmark can maintain its self- sufficiency in oil and natural gas for another ten years, based on known reserves. However, on the basis of experience, the DEA expects that the use of innovative recovery technology and more discoveries resulting from exploration can uphold Denmark’s self-sufficiency in oil and natural gas for an additional ten years. Market Trends, Drivers, Restraints, and Opportunities

  2. The upstream sector is dominating the Denmark oil and gas market. With ongoing and upcoming offshore projects there is expected to be a significant growth in the market during the forecast period. The COVID-19 pandemic had disrupted the oil & gas market across the globe. This was due to the closedown of the mining and exploration activities. However, declining number of cases and recovery of the global economy are anticipated to help the market recover soon. Most of the oil & gas fields are in the maturing phase, which can hamper the growth of the market. The re-development of the Tyra field in the Danish North Sea and completion is expected to be done by 2022. Tyra field is expected to create many opportunities for oil and gas companies in the projected timeline.    Sample - https://growthmarketreports.com/request-sample/1479 Market Segment Insights Upstream segment to account a large market share Based on sectors, the market is divided into upstream, midstream, and downstream. The upstream segment is projected to account for a large market share during the forecast period. Rising consumption of petroleum products and increasing capacity of refining of oil are expected to drive the growth of the market segment The midstream segment is anticipated to grow at a healthy rate during the forecast period. Midstream activities include transportation and storage of petroleum gas products. Increasing investment of government and private players on deploying storage facilities is propelling the growth of the market segment. Inquiry- https://growthmarketreports.com/enquiry-before-buying/1479 Competitive Landscape The Denmark oil and gas market is partially consolidated. Some of the major companies include Total SA, Royal Dutch Shell PLC, Equinor ASA, Norwegian Energy Company ASA, Energinet DK, and Gaslager A/S. Major industry players are engaging in mergers and acquisitions to expand their market share. The Government of Denmark is also majorly involving in transforming the oil & gas market. About Growth Market Reports: GMR provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Industry Intelligence Solutions”. GMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. Our key analysis segments, though not restricted to the same, include market entry strategies, market size estimations, market trend analysis, market opportunity analysis, market threat analysis, market growth/fall forecasting, primary interviews, secondary research & consumer surveys.

  3. Contact: Growth Market Reports Phone: +1 909 414 1393 Email: sales@growthmarketreports.com Web: https://growthmarketreports.com Follow Us: LinkedIn | Twitter

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