LNG’s Share of Gas Trade Declines in 2013, Says BP

LNG’s share of global gas trade declined to 31.4% in 2013, according to a report published by BP on Monday.  

‘Global energy demand accelerated in 2013 but, reflecting the weakness of the global economy, growth of 2.3% remained slightly below the historical average. Within this global picture, however, shifts in energy consumption mirrored those in the world’s economic patterns,’ wrote the company. 

While world natural gas consumption grew by 1.4% and natural gas trade grew by 1.8% in 2013, pipeline shipments grew by 2.3%.

International natural gas trade accounted for 30.9% of global consumption. 

‘Growth was below average in every region except North America. China (+10.8%) and the US (+2.4%) recorded the largest growth increments in the world, together accounting for 81% of global growth.’ 

According to BP, global proved reserves of natural gas increased to 185.7 trillion cubic meters (tcm), sufficient to meet 54.8 years of global production.