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Lecture 10

ECON366 Lecture 10: Global Energy Supply - Natural Gas

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Department
Economics
Course
ECON366
Professor
Dana Andersen
Semester
Fall

Description
ECON 366 lecture 11 Global Energy Supply Natural Gas Regional natural gas supply from 1971 to 2012 (billion cubic meter) Unit: billion cubic meter Countries involved: OECD, Middle East, NonOECD Europe and Eurasia, Asia, China, NonOECD Americas, Africa Chart analysis (Source: International Energy Agency, 2013) 1. Global natural gas supply has increased 180 from 1971 to 2012 2. It became more significant due to the increasing demand for electricity, and also lots of countries have been looking for alternative fuels for the oil 3. Pipeline is the most common infrastructure and costeffective tool for the natural gas transportation, but has geographical limitations 4. New technology as LNG (Liquefied Natural Gas) has been carried out in many countries, as processing centers cool and compress the dry gas to the liquefied state, but it is expensive and capital intensive Regional share of natural gas from 1971 to 2012 Chart analysis: 1. The global share of natural gas has increased from 1226bcm to 3435bcm 2. Since natural gas is a byproduct from oil, they have a similar pattern of change. 3. The chart shows all countries have increased the share of natural gas than before. Regional natural gas trade Table A Chart analysis: 1. The large amount of gas production in the United States because it has been using the new drilling technique of fracking 2. Russia has exported natural gas to European countries through 12 pipelines, and as well to China and Asian countries through LNG 3. Japan started importing natural gas (through LNG) as their main source instead of nuclear power for electricity generation after the earthquake in 2007 Coal Regional coal supply from 1971 to 2012 (million ton) Countries involved: OECD, Middle East, NonOECD Europe and Eurasia, Asia, China, NonOECD Americas, Africa Chart analysis 1. There was a weak growth of coal production in the late 1990s, but started increasing rapidly in the early 2000s
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