Remove 2023 Remove BCM Remove Oil
article thumbnail

Russia Targets Major Surge in Natural Gas Exports by 2050

OilPrice

Russia sees its pipeline and LNG overseas deliveries surge from 146 billion cubic meters (bcm) in 2023 to 293 bcm in 2030, and further up to 438 bcm by 2050. Crude oil and condensate production is targeted to increase from 531 million metric tons per year, or 10.66 million bpd, by 2050.

article thumbnail

US Overtakes Russia as EU No2 Gas Source

Rigzone

Pipeline gas accounted for 55 percent or 38 Bcm while liquefied natural gas (LNG) contributed 45 percent or 31 Bcm, according to the Commission’s latest quarterly gas market report. Bcm, followed by Russia at 14 percent or 9.7 Bcm, followed by Qatar at five percent or 3.2 Bcm and Azerbaijan at four percent or 2.6

BCM 108
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

EU Commission Launches Matchmaking Platform for Energy, Materials Sourcing

Rigzone

AggregateEU has been extended, having initially been meant only for the 2023-24 winter. A total of seven rounds have been conducted under AggregateEU, pooling over 119 Bcm of demand and attracting 191 Bcm of offers. Nearly 100 Bcm have been matched, according to the latest results announcement March 26, 2025.

article thumbnail

Global energy demand rises as power consumption jumps

Oil & Gas 360º

(Oil Price) –Surging power demand in both developed and emerging economies accelerated global energy demand growth in 2024 to nearly twice the pace of recent years, the International Energy Agency (IEA) said on Monday. between 2013 and 2023. As a result, the worlds overall energy demand increased by 2.2%

BCM 130
article thumbnail

Oil Review Middle East - Untitled Article

Oil Review Middle East

But global energy demand is rising even faster, with total fossil fuel use growing by just over 1% and oil remaining the largest source of energy, accounting for 34% of total global demand. The USA is the world’s largest oil producer, accounting for 20% of global production in 2024. as gas markets rebalanced after the 2023 slump.

BCM 52
article thumbnail

Electricity Consumption Drives Growth in Energy Demand During 2024

Egypt Oil & Gas

between 2013 and 2023. Gas demand rose by 115 billion cubic meters (bcm), or 2.7%, compared with an average of around 75 bcm annually over the past decade, IEAs report showed. Meanwhile, oil demand witnessed slower growth, rising by 0.8% last year lower than GDP growth of 3.2%

BCM 52
article thumbnail

Oil Review Middle East - Untitled Article

Oil Review Middle East

Global gas demand reached a new all-time high in 2024, while oil demand growth slowed markedly, according to the IEAs newly-released Global Energy Review 2025 Demand for all energy sources increased in 2024, as global energy demand rose by 2.2% The slowing growth in oil demand to 0.8%, compared to 1.9%

BCM 59