Int'l gas trade jumps 6.2 pct in 2016: survey

Source: Xinhua| 2017-10-28 11:45:37|Editor: Liangyu
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HOUSTON, Oct. 27 (Xinhua) -- International trade in natural gas jumped by 6.2 percent in 2016 as Europe gas consumption resumed growth, according to the International Association for Natural Gas (CEDIGAZ).

CEDIGAZ Survey "Natural Gas in the World 2017", which was published on Friday, confirmed the first estimates published in early May, showing a 1.6-percent growth in global gas consumption in 2016, which is in line with the past five-year average.

Global consumption is also boosted by emerging economies, mainly China, which recorded a 3-percent growth in 2016 and 2015, said the survey. ( In 2016, Europe contributed the largest part of the global consumption growth. Since 2015, European gas consumption has returned to growth, mainly due to cold weather and coal-to-gas switching in the power sector.

Gross gas production increased by 0.6 percent in 2016 to 4.384 trillion cubic meters, and in recent years, the role of natural gas in the energy mix has slightly progressed, in a context of falling coal consumption and rising renewable energy production, according to CEDIGAZ.

Meanwhile, weak market fundamentals and low oil prices led to both a reduction in international gas prices and a convergence among regional benchmarks.