BP Statistical Review of World Energy 2014: Natural gas

BP has released its Statistical Review of World Energy 2014. The report reveals the following in regards to natural gas consumption, production and trade:

Consumption

World gas consumption grew by 1.4%, below the historical average of 2.6%. Consumption growth was above average in the OECD countries (+1.8%) and below average outside he OECD (+1.1%). Growth was below average in every region except North America. China (+10.8%) and the US (+2.4%) recorded the largest growth increments in the world, together accounting for 81% of global growth. India (-12.2%) recorded the largest volumetric decrease in the world, while EU gas consumption fell to the lowest level since 1999. Globally, natural gas accounted for 23.7% of primary energy consumption.

Production

Global natural gas production grew by 1.1%, which was well below the 10-year average of 2.5%. Growth was below average in all regions except Europe and Eurasia. The US (+1.3%) remained the world’s leading producer, but both Russia (+2.4%) and China (+9.5%) recorded larger growth increments in 2013. Nigeria (-16.4%), India (-16.3%), and Norway (-5%) recorded the largest volumetric declines.

Trade

According to BP, the global natural gas trade grew by 1.8% in 2013, well below the historical average of 5.2%. Pipeline shipments grew by 2.3%, driven by a 12% increase in net Russian exports, which offset declines in Algeria (-17.9%), Norway (-4.5%) and Canada (-5.5%). Among importers, growth in Germany (+14%) and China (+32.4%) more than offset a continued decline in the US (-10.9%).

Global LNG trade increased by 0.6% in 2013. Increased imports in South Korea (+10.7%), China (+22.9%), and South and Central American importers (+44.7%) were partially offset by lower imports in Spain (-35.6%), the UK (-31.9%) and France (-19.4%). Qatar continued to be the largest LNG exporter (32% of global exports) and accounted for the largest growth increment (+2.7%). LNG’s share of global gas trade declined slightly to 31.4%, and international natural gas trade accounted for 30.9% of global consumption.

Adapted from a report by Emma McAleavey.

Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/20062014/bp_statistical_review_natural_gas_752/