Baku, Azerbaijan, June 14
By Elena Kosolapova – Trend:
World natural gas consumption grew by 63 billion cubic metres (bcm) or 1.5 percent to almost 3.543 trillion cubic meters (tcm) in 2016, according to BP’s Statistical Review of World Energy 2017.
The growth was slower than the 10-year average of 2.3 percent.
EU gas consumption increased sharply by 30 bcm, or 7.1 percent - the fastest growth since 2010. Russia saw the largest drop in consumption of any country (-12 bcm).
Gas trade grew by 4.8 percent, helped by 6.2 percent growth in LNG imports/exports. Most of the net growth in LNG exports came from Australia (19 bcm out of 21). US LNG exports rose from 0.7 bcm in 2015 to 4.4 bcm in 2016.
Global pipeline gas import hit 737.5 bcm in 2016 compared to 709 bcm in 2015. Global LNG import rose to 346.6 bcm in 2016 from 325.5 bcm in 2015.
Japan's LNG import CIF (cost+insurance+freight) price fell from $10.31 per million British thermal units (Btu) to $6.94 per million Btu. The average price of natural gas imported into Germany decreased from $6.72 per million Btu to $4.93 per million Btu.
UK Heren NBP Index natural gas prices decreased from $6.53 per million Btu in 2015 to $4.69 per million Btu in 2016. US Henry Hub natural gas price fell from $2.6 per million Btu in 2015 to $2.46 per million Btu in 2016. Canada (Alberta) natural gas prices decreased from $2.01 per million Btu in 2015 to $1.55 per million Btu in 2016.
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