Statistical Review of World Energy 2021 | 70th edition

Statistical Review of World Energy 2021 | 70th edition

 
image.png
 

Natural gas consumption decreased by 2.3%, similar to the fall seen in 2009 ‎during the financial crisis. Despite the reduction in absolute levels of gas demand, the share of gas in primary energy continued ‎to rise, reaching a record high of 24.7%

World proved gas reserves decreased by 2.2 Tcm to 188.1 Tcm in 2020. A revision to Algeria (-2.1 ‎Tcm) provided the largest decrease, partially offset by a 0.4 Tcm increase in Canadian reserves. ‎Russia (37 Tcm), Iran (32 Tcm) and Qatar (25 Tcm) are the countries with the largest reserves.

The ‎current global R/P ratio shows that gas reserves in 2020 accounted for 48.8 years of current  ‎production. The Middle East (110.4 years) and CIS (70.5 years) are the regions with the highest R/P ‎ratio.‎

LNG supply grew by 4 bcm or 0.6%, well below the 10-year average rate of 6.8% p.a. US LNG supply ‎expanded by 14 bcm (29%), but this was partially offset by declines in most other regions, notably ‎Europe and Africa.‎

The European gas market is the largest market in which there is active gas-on-gas competition ‎‎(between imports predominantly from Russia – competing against LNG imports – largely from the US ‎as the marginal source of LNG). The European market also plays a key role as the balancing market ‎for liquefied natural gas (LNG) cargoes.

 
Share Button

Attachments

Leave a Reply