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Emerging facts on the oil & gas industry
Jun 15: 8India has a long way to go to reach its commitment made in October 2016 under its Nationally Determined Contribution (NDC) targets to lower the emissions intensity of GDP by 33%–35% by 2030 below 2005 levels. At this moment it is going in the exactly opposite direction. Latest data shows that India's emissions have gone up by 5% in 2016, one of the highest increases recorded by any country. On the other hand China and US recorded a negative 0.7% and 2% growth. Clearly all eyes are now focused on India. Country-wise emission levels and growth in emissions in 2016 are carried here.
8The focus of the gas industry has always been on the US, where tight gas output has gone up dramatically. The point to note however is that there are countries outside of the US, such as Iran and Turkmenistan, which have significantly higher gas reserves. If gas production from these regions were to go up, there will an abundance of supply in the forseeable future. Country wise gas reserves as in 2016 are carried here.
8In Alberta in Canada, the price of gas in 2015 was $2.01/bbl, which went down to $1.50/bbl in 2016. In contrast the Henry Hub price was $2.46/mmbtu. Doesn't it not then make sense for India to base its incremental urea production -- there are six new Rs 6000 crore government sponsored gas based urea units coming up -- in Canada rather than here, where prices are several times higher? Even if the cost of transport of urea is taken into account, landed prices will be much cheaper than producing it here. Detailed gas price data across the world is carried here
8The wide divergence in gas prices in different parts of the world is narrowing, according to latest data given here
8Of the 22.5 MMTPA of LNG imported in 2016 by India, Qatar accounted for good 14 MMTPA. The current disturbances in Qatar underlines the need to diversify our supplies. Global data on movement of gas from one country to another by ship and pipeline are carried here.
8Large parts of the world still have a very low per capita consumption of gas, leading some to suggest that the appetite for gas will go up as a result. A spatial map showing per capital gas consumption is carried here
8India is one of the few countries around the world which has recorded a increase in coal production in 2016 whereas output has been falling across most countries of the world, including China and US (-7.9% and -19%). In the UK, coal production today is at a level where it was 200 years ago.
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