BP data show rise in 1994 gas use outside FSU

Gas use continued to rise in key world markets outside the former Soviet Union last year, a unit of British Petroleum Co. plc reports. BP Review of World Gas shows consumption (13928 bytes) outside the FSU rose 2.9% in 1994. But a 7.6% decline in the FSU meant that total world demand fell slightly to 2.027 trillion cu m from 2.03 trillion in 1993. BP Exploration Operating Co. Ltd. said growth was particularly strong in Asia and Australasia, where a hot summer and an economic upturn in Japan contributed to a 7.9% increase in demand. Gas consumption has in-creased sevenfold in the region during the past 20 years. In North America, which accounts for more than one third of world demand, consumption increased 1.6%. A mild winter in Europe held demand growth to 1.1%. However demand rose by more than 5% in the U.K. In that country, demand got a boost from commissioning of new gas fired power stations and a reduction in spot gas prices. Although steep, the decline in gas demand in the FSU was less marked than that for oil or total energy. As a result, gas now accounts for almost 50% of the regions energy needs.

Reserves, production

World gas reserves fell by 0.7% in 1994 to 141.024 trillion cu m, but the 10 year average growth of reserves is still 3.9%. Current reserves will supply the world for 68 years at todays production rate. Production increased by only 0.6% in 1994, although the increase was 3.8% in the world outside the FSU. Strong growth occurred in North America, Asia/Australasia, and South and Central America. Despite a 5.5% slide in FSU production, Russian production fell by only 1.8%. Gas not consumed locally was exported to Europe and Ukraine, displacing gas exports from Turkmenistan, where production fell by more than 45% during the year. LNG trade increased by 5% in 1994 to almost 88 billion cu m of gas. Japan, the worlds No. 1 consumer of LNG, increased its imports 6.6% to almost 57 billion cu m. Copyright 1995 Oil & Gas Journal. All Rights Reserved.