Natural gas
2017 was a bumper year for natural gas, with consumption (3.0%, 96 bcm) and production (4.0%, 131 bcm) both increasing at their fastest rates since the immediate aftermath of the financial crises
The single biggest factor driving global gas consumption last year was the surge in Chinese gas demand, where consumption increased by over 15%, accounting for around a third of the global increase in gas consumption. Much of this rapid expansion can be traced back to the Environmental Action Plan announced in 2013, which set targets for improvements in air quality over the subsequent five years.Spencer Dale, group chief economist
US LNG exporters’ costs and Asian spot prices ($/mmBtu)
* Operating costs = 1.15* Henry Hub + $2/mmBtu (transport); Full costs also include liquefaction fee ($3/mmBtu)
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