BP chief economist: Natural gas consumption, production increased worldwide

Oil&Gas Materials 30 October 2019 20:50 (UTC +04:00)

BAKU, Azerbaijan, Oct. 30

By Anastasiya Savchenko – Trend:

Consumption and production of natural gas increased worldwide last year, BP chief economist for Russia and the CIS, Vladimir Drebentsov, said.

Drebentsov made the remark in Baku at the event dedicated to the forecast of energy development until 2040, Trend reports.

An event dedicated to the statistical review of the world energy and the forecast of energy development until 2040 was held in Baku on October 30, 2019.

“Only the US increased gas production by more than 80 billion cubic meters,” the chief economist said.

"The US will become a leader in the production of liquefied natural gas (LNG) in the long term prospect," Drebentsov said.

He also emphasized that the demand for natural gas will grow because natural gas is the best energy source for replacing coal.

"The shale revolution has contributed to the growth of LNG export by the US,” Drebentsov said. “The country will become the biggest exporter of liquefied natural gas in the world in the future."


Follow the author on Twitter: @AnSav_2105