December 2006

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HPIn LNG: Changing LNG trade within the global gas market

The International Energy Agency's (IEA's) 2006 baseline scenario forecasts that global natural gas (NG) demand will increase by 138% from 2,244 million ton of oil equivalent (Mtoe) in 2003 to 5,349 Mt..

Mokhatab, S., Consultant

The International Energy Agency's (IEA's) 2006 baseline scenario forecasts that global natural gas (NG) demand will increase by 138% from 2,244 million ton of oil equivalent (Mtoe) in 2003 to 5,349 Mtoe in 2050. In addition, the global NG consumption will rise from 95 trillion cubic feet (tcf) in 2003 to 182 tfc by 2030, with worldwide consumption rising annually at an average rate of 2.4% from 2003 to 2030. The IEA's estimates can provide insight into future gas movements. Non-OECD Europe and Eurasia and the Middle East hold almost 75% of the world's NG reserves, but produce less than 40% of total NG production. These regions are expected to account for 47% of the projected new NG global

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