Eni: 2014 gas production flat

Global gas production remained pretty flat in 2014, Italy’s Eni revealed in its World Oil and Gas Review on Tuesday. 

Production was led by the USA, which confirmed its position as the top producer for the third year in a row due to its shale gas resources.

In Russia, the world’s second gas producer, output fell by 6.1 percent, reflecting both declining domestic demand and contracting exports. The economic downturn, low oil prices and international sanctions affected the energy sector, despite the state’s anti-crisis programme, according to the review.

World gas consumption registered a modest decrease in 2014, a 0.4 percent drop compared to the 2.4 percent average increase per year from 2000 to 2014.

Mild weather and economic weakness drove gas demand reductions in Europe and Russia.

In the Middle East and Asia Pacific, gas consumption increased driven by economic growth, especially in Iran and China.

The vast availability of domestic gas production and low prices supported US consumption growth, confirming the country’s position as the biggest gas consumer in the world.

LNG World News Staff; Image: Eni