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2021-01-21 14:30:00

OECD GAS PRODUCTION DOWN 3.4%

OECD GAS PRODUCTION DOWN 3.4%

IEA - Jan 19, 2021 - MONTHLY OECD NATURAL GAS  STATISTICS, October 2020

Total OECD indigenous production of natural gas decreased by 3.4% in October 2020 compared to October 2019. The negative trend was led by the OECD Americas (-5.8% y-o-y1), followed by OECD Europe (-5.0% y-oy), due mostly to a production declines in the United States (-7.4% y-o-y) and Norway (-4.8% y-o-y). 

Meanwhile, production grew by 18.9% in OECD Asia Oceania, where the positive trend was led by Australia (+22.5% y-o-y). Overall, total OECD indigenous production of natural gas decreased by 1.4% on a year-todate basis2.

Total OECD imports (entries)3 of natural gas declined by 1.8% in October 2020 on a year-on-year basis. This trend was led by OECD Europe (-2.6% y-o-y) with a 1.9% y-o-y decrease of imports from OECD countries. The OECD Americas and OECD Asia Oceania balanced each other with a decrease of 4.5% and an increase of 3.4% year-on-year, respectively. In terms of pipeline and LNG split, a decrease was observed for LNG imports (- 7.2% y-o-y) while pipeline imports increased (+0.2% y-o-y) in the total OECD. 

Total OECD exports (exits)3 of natural gas increased by 0.3% in October 2020 compared to October 2019. Both the OECD Americas (+7.0% y-o-y) and OECD Asia Oceania (+24.6% y-o-y) experienced increases in exports. Contrarily, a decrease in exports was observed in OECD Europe (-8.1% y-o-y). Total OECD exports of LNG increased by 17.4% y-o-y, while the trend reversed for pipeline exports with a 4.6% decrease y-o-y. Total OECD gross consumption of natural gas increased by 1.4% in October 2020 compared to the same month last year. Year-on-year consumption rose in all three regions: OECD Asia Oceania increased by 5.7%, OECD Europe by 1.2% and the OECD Americas by 0.6%, driven mostly by Australia (+14.8% y-o-y), Turkey (+23.3% y-o-y) and Mexico (+23.0 y-o-y). Overall, total OECD gross consumption of natural gas decreased by 2.1% y-t-d. 

1. Year-on-year (y-o-y) change over corresponding month of previous year.

2. Year-to-date (y-t-d) change over corresponding period (beginning of year to current month) of previous year.

3. Transit volumes are included. Trade amounts include intra-regional trade.

 

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Tags: OECD, GAS