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2017-03-24 19:15:00

EU GAS DEMAND UP

EU GAS DEMAND UP

NGW - The joint Organisations Data Initiative has just released oil and gas data for 2016. For the second year, EU gas consumption was up (this time by 7.4%) while domestic production was down by 2%.

Of the main EU markets, the UK witnessed an increase of 13% thanks to gas being more competitive than coal for power generation following the implementation of the £18/tCO2 Carbon Price Support. French gas demand is up by 10% owing to poor availability of nuclear. The record growth is for Greece, up by 29% in 2016 compared with 2015. But demand there is still 14% beiow its 2011 record.

EUROPE GAS CONSUMPTION 2014 - 2016

On the production side, the start-up of the Corrib field in Ireland and the Laggan & Tormore gas fields in the UK was not enough to offset the huge drop in Groningen production. Total EU production is down by 2%. The Cygnus UK offshore gas field that started at the end of 2016, should help the UK to continue to grow production in 2017. 

EUROPE GAS PRODUCTION 2014 - 2016

This means that imports are up by 11.7% with foreign dependency now above 70% (71% in 2016 vs 68% in 2015). With future consumption flat and little hope of mitigating the terminal decline of domestic production and the UK soon out of the EU, the bloc's foreign dependency should continue to rise to soon reach 80%.

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Earlier: 

UKRAINE PAYS MORE 

RUSSIA'S GAS FOR EUROPE 

EUROPEAN RENEWABLE ENERGY 

EU WITH RUSSIA SANCTIONS 

GAZPROM'S SHARE UP TO 34%

 

 

 

 

 

Tags: EUROPE, GAS, DEMAND

Chronicle:

EU GAS DEMAND UP
November, 22, 11:05:00

NIGERIA & CHEVRON PROJECT &1.7 BLN

Nigerian National Petroleum Corporation (NNPC) and Chevron Nigeria Limited (CNL) have executed the second and final phase of an Alternative Financing Agreement that would increase crude oil production in the country by about 39,000 barrels per day.

EU GAS DEMAND UP
November, 22, 11:00:00

MAERSK-AKER-HALLIBURTON ALLIANCE

OGJ - Maersk Drilling and Aker BP announced a drilling rig alliance based on a tripartite collaboration model that also includes service provider Halliburton Co.

EU GAS DEMAND UP
November, 20, 09:35:00

OIL PRICE: ABOVE $62 YET

REUTERS - Brent crude futures LCOc1, the international benchmark for oil prices, were at $62.56 per barrel at 0439 GMT, down 16 cents, or 0.3 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were at $56.59 a barrel, up 4 cents, or 0.1 percent, from their last settlement.

EU GAS DEMAND UP
November, 20, 09:30:00

ROSNEFT'S WORLD RECORD: 15000 M

Rosneft as a member of Sakhalin-1 Consortium successfully completed drilling of the world's longest well from Orlan platform at Chaivo field in the Sea of Okhotsk. The length of the well with horizontal completion is 15000 m which currently is a world record. This is a supercomplex well with DDI (Directional drilling index) of 8.0 and 14,129 m stepout.

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