The U.S. was the highest pure gasoline producer final yr, in response to the Power Institute’s (EI) newest statistical assessment of world vitality, which was launched just lately.
That assessment confirmed that the U.S. produced 1.035 trillion cubic meters of pure gasoline in 2023. That determine was up 4.2 p.c yr on yr and marked 25.5 p.c of whole international pure gasoline manufacturing final yr, the assessment outlined. From 2013 to 2023, U.S. pure gasoline output has grown by a median yearly fee of 4.7 p.c, the assessment revealed.
Russia ranked second by way of gasoline manufacturing in 2023, in response to the assessment, which confirmed that the nation produced 586.4 billion cubic meters final yr. This determine was down 5.2 p.c yr on yr and marked 14.4 p.c of whole pure gasoline manufacturing in 2023, the assessment highlighted. From 2013 to 2023, Russia’s pure gasoline output has dropped by a median of 0.5 p.c yearly, the assessment outlined.
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The third largest pure gasoline producer in 2023 was China, with 234.3 billion cubic meters, the assessment identified. This determine marked a 5.6 p.c yr on yr improve and 5.8 p.c of whole pure gasoline manufacturing in 2023, in response to the assessment, which revealed that China’s pure gasoline output has grown by a median of 6.8 p.c yr on yr from 2013 to 2023.
Whole pure gasoline manufacturing in 2023 was 4.059 trillion cubic meters final yr, which was 0.3 p.c greater than in 2022, the assessment outlined.
The EI’s pure gasoline manufacturing figures exclude gasoline flared or recycled and embrace pure gasoline produced for gasoline to liquids transformation.
Pure Fuel Consumption
The highest pure gasoline client in 2023 was the U.S., with 886.5 billion cubic meters, the assessment confirmed. That determine marked a 0.8 p.c yr on yr improve and 22.1 p.c of whole international pure gasoline demand in 2023, the assessment highlighted. From 2023 to 2023, U.S. pure gasoline demand has risen by a median of two.3 p.c yearly, the assessment revealed.
Russia was the second greatest pure gasoline client final yr, with 453.4 billion cubic meters, whereas China was the third largest, with 404.8 billion cubic meters, in response to the assessment, which identified that Russia’s consumption determine was up 1.1 p.c yr on yr and China’s was up 7.2 p.c yr on yr.
Russia’s demand determine marked 11.3 p.c of whole international pure gasoline consumption in 2023 and China’s demand determine represented 10.1 p.c of world demand, the assessment confirmed. From 2013 to 2023, Russia’s demand elevated by a median of 0.7 p.c yearly, whereas China’s elevated by a median of 8.9 p.c yearly, the assessment revealed.
Whole pure gasoline consumption hit 4.010 trillion cubic meters in 2023, in response to the assessment, which outlined that this determine was inside 0.05 p.c of 2022’s pure gasoline demand determine.
EI’s pure gasoline demand numbers exclude pure gasoline transformed to liquid fuels however embrace derivatives of coal in addition to pure gasoline consumed in gas-to-liquids transformation.
Fuel Manufacturing, Demand Traits
A foreword included within the gasoline part of EI’s assessment acknowledged that international gasoline demand “remained secure in 2023, rising by only one billion cubic meter”.
“This was not adequate to get better the losses seen in 2022 when total demand dropped by 0.4 p.c (15 billion cubic meters). In Europe, pure gasoline demand fell by seven p.c (34 billion cubic meters) in 2023, right down to its lowest degree since 1994,” it added.
“Equally, gasoline manufacturing within the area declined by round seven p.c pushed by decreases in its prime producing international locations, Norway, UK, and the Netherlands. Fuel demand within the Asia Pacific area grew practically two p.c, pushed by China and India’s seven p.c progress will increase,” it continued.
In a launch accompanying the publication of EI’s statistical assessment of world vitality, the EI famous that the continued Ukraine battle “cements gasoline rebalancing in Europe”, including that Russia’s share of EU gasoline imports fell to fifteen p.c, down from 45 p.c in 2021, “with LNG imports outflanking piped gasoline to Europe for a second yr in a row”.
To contact the writer, electronic mail andreas.exarheas@rigzone.com
