BP: Energy consumption takes records

BP: Energy consumption takes records

Baku, Azerbaijan, July 6 /Trend, A.Badalova/

2010 was a record year in terms of world energy consumption, chief economist at BP Russia Lev Frenkman said in Baku on Wednesday.

"Records were set both in all regions and over all types of fuel," Frenkman said at the presentation of BP Statistical Review of World Energy 2010.

According to data provided by BP, world energy consumption increased in 2010 by 5.6 percent, the highest growth since 1973.

According to Frenkman, this growth in consumption is associated with the cyclicity of the world economy. Demand in OECD countries rose by 3.5 percent in 2010, in non-OECD countries - 7.5 percent.

He said last year, also 3.1 percent growth was recorded in oil consumption, which is the highest rate of growth since 2004. The growth of oil consumption in OECD countries was 0.9 percent, in non-OECD countries - 5.5 percent.

Global oil production rose by 2.2 percent last year, according to BP.

Frenkman said the share of natural gas in the global energy balance in 2010 rose consistently. Growth rate of gas consumption last year exceeded 7 percent. Gas production rose last year by 7.3 percent, according to BP. The intensive growth of production was observed in Russia (11.6 percent) and Qatar (30.7 percent).

In 2010, the growth of trade with liquefied natural gas amounted to 22.6 percent. According to BP, the share of LNG in global gas trade is now 30.5 percent.

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