UPDATED 1 Sept: The EI library in London is temporarily closed to the public, as a precautionary measure in light of the ongoing COVID-19 situation. From 1 September, the library will be staffed Tuesday-Thursday, meaning some services including loans of hard copy materials can resume. The Knowledge Service will still be answering email queries via email , or via live chats during working hours (09:15-17:00 GMT). Our e-library is always open for members here: eLibrary , for full-text access to over 200 e-books and millions of articles. Thank you for your patience.

Eni’s world oil, gas and renewables review

Eni has just published the second volume of its World Oil, Gas and Renewables Review, which provides data on natural gas, renewable energy sources (solar and wind) and biofuels. The first volume was published in July 2019 and focused on the oil market and refining sector.

According to the latest report, world gas reserves increased slightly (+0.6%) in 2018. Russia remains the top holder of gas reserves, with 24% of the world's total. Seven OPEC countries are in the top 10, accounting for 47% of the world's total.

World gas production has continued to increase, accelerating over the last two years (>3% in 2017–2018 versus +1.6% in 2015–2016). US and Australian gas production grew more than 10%, mainly in response to the start-up of new LNG plants. In 2018, the two countries became the fourth and fifth largest gas exporting countries in the world respectively (the third and second largest if considering LNG alone). Russian gas production, the world's second largest producer after the US, slowed (–0.6%), but exports reached record levels. Europe gas production recorded a drop of –5.3%, with all the major producing countries showing a decrease (Netherlands –16% due to increasingly stringent Groningen production caps; UK –3.2% and Norway –2.5%). In Africa, Egypt continues to grow at high rates (+ 12%), following the Zohr ramp-up, more than compensating for the decrease in Algerian and Nigerian production.

Global gas demand has increased significantly, according to the study, up 4.6% – the highest increase since 2010, and growing in all areas except in Europe (–1.7%). The Asia-Pacific region led demand growth in 2018 (+6.3%), thanks to China (around +15%), the world's third largest consumer of gas and the largest importer in 2018. Gas demand also increased in Singapore (+22%), Pakistan (+20%), South Korea (+12%), Malaysia (+5%) and India (+5%), while it declined in Japan (–3.8%), which fell to third position among importers of gas, overtaken by China and Germany. Due to the harsh climate, a significant increase in demand was recorded in the US (+9.5%).

At the end of 2018, solar and wind installed generation capacity (486 GW and 564 GW respectively) accounted for more than 40% of all renewables and about 15% of all power sources. In 2018, solar photovoltaic capacity additions grew by about 25%, reaching a record 94 GW, driven by the declining cost of technology, reports Eni. Wind capacity increased by 49 GW, but additions fell by 3% versus 2016. China maintains its lead in terms of solar and wind installed capacity (360 GW, 34% of the world total solar and wind capacity), although at a slower rate growth (+22% versus 30% in 2016 and 2017). 

News Item details

Please login to save this item