Cedigaz: Global gas market growth slowed in 2013

Global natural gas consumption rose by just 1.3% in 2013, down from an average of 2.8%/year in the previous decade, according to a recent report from Cedigaz, the international natural gas association based near Paris. Production growth also slowed, to 0.8%, with the association ascribing the change to supply constraints in a tense geopolitical environment.

Increased pipeline trade led international natural gas trade 2.1% higher year-on-year, overcoming a stagnant, supply-restricted LNG market, Cedigaz said. Interregional pipeline gas exports were strongest from the CIS to Europe (+15%) and China (+36%). Global trade totaled 1,048 billion cu m (bcm).

Cedigaz’s report—2013 Natural Gas Year in Review—said the commodity still suffers from severe competition with coal in the power generation sector, with actual European Union consumption down 1.9% to 460 bcm, the lowest level in 15 years. In the US, rising year-on-year gas prices made coal more competitive and penalized gas consumption in power generation, causing it to fall 10.5%.

Gas production totaled 3,377 bcm, with Cedigaz citing declining mature and conventional fields combined with insufficient reserve replacement in describing the slow rate of growth. It said the lack of upstream investment was particularly acute in emerging markets due to their relatively unfavorable regulatory and fiscal climates.

Contact Christopher E. Smith at chriss@ogjonline.com.

Related Articles

Parsley Energy adds Permian basin acreage

08/26/2014 Parsley Energy Inc., Midland, Tex., has agreed to buy from “multiple sellers” undeveloped and productive acreage in Reagan County, Tex., for a tota...

MARKET WATCH: NYMEX crude oil prices slip pending inventory report

08/26/2014 Crude oil futures prices slipped modestly on the New York market Aug. 25, and analysts said traders expected a weekly government oil report schedul...

CERI: Market access key to Canadian bitumen output

08/25/2014 Outcomes in two areas of critical uncertainty can mean a difference in Canadian bitumen production in 2030 of 1.7-1.8 million b/d, according to a s...

MARKET WATCH: Crude oil futures close week modestly lower

08/25/2014 Crude oil futures prices closed out the week ended Aug. 22 modestly lower after staging a bit of a recovery midweek (OGJ Online, Aug. 22, 2014).

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!


Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected