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Eni presents the 16th edition of the World Oil and Gas Review, the annual statistics report on oil and natural gas. For the first time, this year the Review has been split into two separate volumes: the first one, the World Oil Review, dedicated to the oil industry and the second one, the World Gas & Renewables Review, dedicated to natural gas and renewable energy sources.
Eni presents the second volume of the World Oil and Gas Review, the annual statistics report on oil and natural gas that this year has reached the16th edition. This volume follows the first one, published in July and focused on oil and the refining industry. It provides figures and statistics on natural gas, biofuels, and, for the first time, on modern renewable energy sources (wind and solar), which are a key element in the energy transition towards a low carbon future.
In 2016, world gas reserves increased by 0.9%. This trend was driven by the United States, where reserves grew after a decrease in 2015, and by Nigeria and Iraq. Russia remains the top holder of gas reserves (25% of the world’s total). Among the top ten, six are OPEC countries with 32% of the world’s total.
World gas production increased by 0.7%, driven mainly by the Australian new LNG plants. In the US, the world’s largest producer of natural gas, production slightly declined (-3.2%), after a 10-year increase mainly due to the shale gas boom. In Europe, Norway’s production was almost flat after a strong jump in 2015, whilst output continued to decline in the European Union (-3%). In Russia, the world’s second gas producer, output resumed growth after the decline of the previous year.
World gas demand recorded a robust growth in 2016 (+2.0%), thanks to strong recovery in Europe (+5.4%), mainly due to the power sector and weather conditions, and in Asia-Pacific (+5.1%), led by strong demand in China (+8.6%). Gas demand rose substantially also in India and S. Korea, after a year of stagnation and decline respectively. UK, Germany, Italy, and France showed the highest increases in Europe.
At the end of 2016, solar and wind installed capacities (296 and 467 GW respectively) accounted for almost 40% of all renewables installed power capacity (about 15% of all power sources). China leads the market for solar and wind with an installed capacity of 226 GW (30% of the world total).
In 2016, solar photovoltaic capacity additions grew by 50% compared to 2015, reaching a record 71 GW driven by declining cost of technology. Wind capacity increased by 51 GW, but additions fell by 21% vs 2015. Total new installations were concentrated in China (44%). North America (+21 GW), thanks to new PV installations, slightly overtook Europe (+19 GW), where wind led the growth.
In 2015, in power generation wind represented 3.5% and solar energy 1%. The contribution of modern renewables to power generation remains lower than their contribution to capacity due to current low average capacity factors (below 25% for wind and 15% for solar).
Data are from the Eni annual statistical publication World Oil and Gas Review 2017
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