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Page added on July 31, 2014
The Middle East holds 43.2% of world’s natural gas
The Middle East, with 80.3 trillion cu/m, is home to 43.2 percent of the total natural gas deposit in the world, according to a new report.
A BP Statistical Review of World Energy June 2014 report said Qatar currently contains the highest deposit of natural gas with 24.7 trillion cu/m with Saudi Arabia next in line containing 8.2 trillion cu/m in the region.
Bob Dudley, group chief executive of BP, said “the data in this review shows a flexible global energy system adapting to a changing world. It demonstrates how the world’s quest for secure and fairly-priced energy can be met through competitive industries driving innovation and smart government policies that amplify the creative energy.”
The proven natural gas reserves by the end of 2013 stood at 185.7 trillion cu/m, 0.2 percent higher than the previous year, the BP data added.
The International Energy Agency (IEA) has, however, stated that the demand for natural gas will exceed its production from Middle East countries by the year 2019.
The available figures indicate an increase in demand from 426bn cu/m in 2002 to around 535bn cu/m in 2019, thus recording a 109bn cu/m increase or 26 percent rise.
Estimates also indicate that gas production will increase from 582bn cu/m in 2013 to only around 658bn cu/m through the end of this decade. Another report said that the main reasons behind the increase in the use of gas in the energy sector stem from economic factors such as the price of gas being lower than that of oil and environmental factors such as less pollution.
The report also added that the regional power consumption is increasing rapidly — the rise is estimated at five percent to six percent yearly in some countries in the region compared with two percent to four percent in other countries.
The global reserves of conventional natural gas are estimated at about 176 T.m3 (trillion m3) at the end of 2004.
9 Comments on "The Middle East holds 43.2% of world’s natural gas"
Plantagenet on Thu, 31st Jul 2014 3:56 pm
Its nice that the ME has a great deal of NG, but the USA is basically self-sufficient in NG for the foreseeable future. As Obama pointed out in 2012, thanks to recent discoveries in fracked shales, the US has a ca. 100-year-supply of NG.
Jimmy on Thu, 31st Jul 2014 6:39 pm
Agriculture burns diesel.
rockman on Thu, 31st Jul 2014 8:49 pm
Plant – Unfortunately not so. In 2013 we had to import 1.2 trillion cf to satisfy the shortfall of domestic production. At least our net NG imports have decreased in recent years, like in 2007 when we had a net import of 4.7 tcf. According to the EIA the US has been a net NG importer for more than 35 years. By there chart the US has imported a net of about 70 tcf of NG since the rely 70’s. Data from:
http://www.eia.gov/naturalgas/importsexports/annual/
Northwest Resident on Thu, 31st Jul 2014 9:29 pm
“… thanks to recent discoveries in fracked shales, the US has a ca. 100-year-supply of NG.”
Only if we have the oil to extract it. Which is extremely doubtful.
Keith_McClary on Fri, 1st Aug 2014 12:30 am
“It demonstrates how the world’s quest for secure and fairly-priced energy can be met through competitive industries driving innovation and smart government policies that amplify the creative energy.”
“smart government policies” like humanitarian bombing and regime change.
westexas on Fri, 1st Aug 2014 6:06 am
It’s interesting to look at some regional declines in US oil and gas production, e.g., marketed Louisiana natural gas production (the EIA doesn’t have dry processed data by state).
According to the EIA, the observed simple percentage decline in Louisiana’s annual natural gas production from 2012 to 2013 was 20%. This would be the net change in production, after new wells were added. The gross decline rate (from existing wells in 2012) would be even higher. This puts a recent Citi Research estimate in perspective.
Citi estimates that the gross underlying decline rate for overall US natural gas production is about 24%/year. This would be the simple percentage change in annual production if no new sources of gas were put on line in the US. In round numbers, this requires the US to add about 16 BCF/day of new gas production every year, just to maintain about 66 BCF/day of dry processed natural gas production. To put 16 BCF/day in perspective, dry processed natural gas production from all of Texas was probably at about 18 BCF/day in 2013.
Based on the Citi report, the US would have to replace 100% of current natural gas production in about four years, just to maintain a dry processed gas production rate of 66 BCF/day (24 TCF/year) for four years.
Or, based on the Citi report, the US has to replace the productive equivalent of all of the 2012 dry natural gas production from the Middle East, in a little over three years (3.3 years), in order to maintain a dry production rate of 24 TCF/year. Over a 10 year period, we would need to put on line three times the 2012 production rate from the Middle East, in order to maintain current US natural gas production for 10 years.
baptised on Fri, 1st Aug 2014 11:23 am
Hey Westexas & Rockman, what did the dog say when he rubbed against the brick house? Ruff
rockman on Fri, 1st Aug 2014 11:13 pm
Baptized – Yes…the truth can be ruff. Imagine how westexas and I feel: we survive financially by finding new oil/NG reserves. And it became increasingly ruff for a few decades. LOL.
rockman on Fri, 1st Aug 2014 11:25 pm
NR – “…the US has a ca. 100-year-supply of NG.” Actually if you accept the EIA stats the US doesn’t have one day’s supply of NG since we are a net NG importer. With record high global oil production the US today has all the oil it can use to extract NG. Yet we’re unable to supply the consumers with their current demand for 24 hours without the aid of imports.
Before I started talking about hundred year supply I would wait until we stop importing several tcf/year to supplement inadequate domestic production.