‰…†€ ‰…†‰ ‰…†… ‰…†‹ ‰…†‡

 ”­ ”­ ‰…†Š

 
‹


…
 
 „‹…„
‰…†ƒ
JANUARY • Eni hit gas at the Marine XII Block offshore Congo- 200 million cf/d. completed at the beginning of 2017. ‡††““ƒ ‡††““ƒ 1.5 million t/y of LNG for 20 years, upon need to be replaced at the Kashagan field in the • China signed an estimated $400 billion deal with • Cameron LNG received FERC approval for its LNG JULY LNG storage tank. million t/y of LNG for 17 years, starting in 2017. • Statoil’s Giligiliani-1 well, drilled in Block 2, DECEMBER
• Woodside Petroleum signed a deal to supply up to 1.5 Brazzaville with the Nene Marine-3 well. The find • Total started production from Phase 2 of the Itaú • KNPC awarded a FEED contract for a new LNG import ­¢ ¢†­•‹ commencement of the 13.5 million t/y Corpus Caspian Sea, delaying the project further. Russia for 38 billion cm/y of gas for 30 years export plans. • Woodside Petroleum hit gas with the Toro-1 well • Canacol Energy hit gas with the Palmer-1 well in • Cnooc hit gas at the Lingshui 17-2 well in the offshore Tanzania, hit gas. • Petrobras’s Orca-1 well, drilled in the Caribbean
million t/y of LNG to Chubu Electric Power over three holds an estimated 30 million cm of gas in place, with gas and condensate field in Block XX, Bolivia, tripling
   “    • ‹  ”   terminal in Kuwait to Foster Wheeler.
ƒ“ƒ
„ˆƒ „†‹ „†‡
ƒ“ƒ Christi LNG plant in Texas, expected to be in 2018. beginning in 2018. • GDF Suez and Santos abandoned plans for an in WA-430-P in the offshore Exmouth sub-basin, the Esperanza contract, Colombia. South China Sea.    “    ‹  ”  
• Statoil sold its 15.5% stake in the Shah Deniz offshore Colombia, hit gas.
years from April 2014, primarily from uncommitted first production expected in 2016. production to 5 million cm/d. Oman signed an initial agreement with Iran to build a ‚† ƒ“¥ ‚† ƒ“¥ • Kansai Electric Power signed as SPA with Mitsui MAY • Höegh LNG signed an LOI with Egypt’s EGAS for FLNG project off northern Australia. Australia. • RWE Dea achieved first gas from the Central • Statoil discovered gas at the Pingvin prospect in PSA, and its 15.5% stake in the South Caucasus • BG and Chevron announced first gas from their ˆ‡‡† „†ˆ„ „†„† „†„€ „†Š† „†Š€ „†ƒ† „†ˆ„‘„†ƒ†¥
  
volumes from Pluto LNG, Australia.
• Fluor Corporation announced that its joint venture FEBRUARY
• Excelerate Energy filed a formal application with
FERC requesting authorisation to construct, own and
$1 billion subsea pipeline to import gas from Iran by
the end of 2017.
„ˆŠ
for 400,000 t/y of LNG for 20 years from the 12
million t/y Cameron LNG plant in Louisiana. The
   “    ‹  ”   • GDF Suez inaugurated an 187,000 cm LNG storage
tank at the GNL Mejillones LNG import terminal
the use of one of its FSRUs as an LNG import
terminal at Ain Sokhna.
• Africa Oil Corporation discovered gas with the
Sala-1 well, drilled in Block 9, onshore Kenya.
• Cheniere Energy signed an SPA with EDF for
380,000 t/y of LNG upon commencement
Treatment Plant of the Disouq project in Egypt,
reaching a rate of 90 million cf/d.
the Norwegian sector of the Barents Sea.
• CB&I won a FEED contract for the Ain Tsila
Pipeline Company to Petronas for $2.25 billion. Starfish field in the East Coast Marine Area,
offshore Trinidad. Production is expected to reach
† —• ˆ–†Š‰ ˆ‰„‰ ˆ–…„ƒ ˆ–‹†‡ ˆ–‹‹‹ ˆ–‡€„ „–††ƒ †‚…˜
with JGC won an EPC contract for the proposed 11 • Murphy Oil reached FID on the second FLNG project operate the first FLNG export facility in the US. The • PGN began construction of a 200km subsea gas  Ž 
† ƒ 
plant is expected to on line in 2018. in Chile. This replaces the initial FSRU storage • Circle Oil announced the addition of a successful of T2, and an additional 770,000 t/y upon • China completed the third West-East natural gas development in Algeria. Work includes a 420 NOVEMBER 210 million cf/d.
million t/y Kitimat LNG project in British Columbia. in Malaysia. The 1.5 million t/y project, in partnership project will be located in Port Lavaca on the Texas Gulf pipeline from the Kepodang field to the Tambak Lorok ‰‰†ˆ ‰‰†„ • Statoil hit gas discovery at Valemon Nord in the concept. JUNE gas discovery to its Sebou gas portfolio in commencement of T3 at Corpus Christi LNG. pipeline. The 7,378km, 30 billion cm/y pipeline million cf/d gas plant and three associated • China signed a second deal with Russia for the • Chevron started production from the Jack/ St „ Œ  ­ ­­  ­   —
‰‰†Š ‰‰†ƒ ‰‰†€ ‰‰†‰ ‰‰†… ‰‰†‹ ‰‰†‡
• Shell sold its stake in the 8.9 million t/y Wheatstone with Petronas, will centre on the Rotan field in Block H coast. power plant in Semerang, central Java. ‡Œ”””€‰”“€ North Sea. • Novatek signed an SPA for 3 million t/y of LNG • GDF Suez hit gas with the 44/12a-6 exploration Morocco. • Sasol announced that it had begun work on a
‰ Š„ spans 10 provinces and autonomous regions. pipelines. supply of 30 billion cm/y of gas. Malo development in the deep-water US Gulf of ‹  
  
    


LNG project in Australia to Kufpec for $1.14 billion. offshore Sabah. • Petronas finalised the sale of a 25% stake in its • Construction of the 300km, $866 million Arc de • Repsol announced first gas from the Kinteroni with CNPC for 20 years from the 16.5 million t/y well, drilled in the southern sector of the UK • Mubadala Petroleum declared the Pegaga  ‚„ ­
joint-feasibility study for a large scale GTL plant in • The Iasi-Ungheni interconnector between • Freeport LNG received final approvals for its Mexico. Output will hit 21 million cf/d.         ­   —
• Chevron given approval to develop the Alder oil- and • The US Department of Energy conditionally authorised 12 million t/y Pacific Northwest LNG project in Dierrey pipeline, linking the 9.4 million t/y LNG import field in Peru. Discovered in 2008, it is estimated to Yamal LNG plant in Russia, due to come on stream North Sea. discovery in Block SK300 offshore Malaysia to be Mozambique. Romania and Moldova was inaugurated. The OCTOBER  proposed export plant on Quintana Island near • BG loaded the first cargo from the 8.5 million t/y


gasfield in the UK North Sea. The project has a design Cameron LNG to export domestically produced LNG to British Columbia. Sinopec took 15% and Indian Oil terminal under construction in Dunkirk, France, with •

  —   hold at least 2 trillion cf. in 2016. • Ophir Energy hit  
gas with the Taachui-1 well, a substantial gas find with significant commercial 43.2km pipeline has a capacity of 1.5 billion cm/y. • Ophir Energy hit gas with the Kamba-1 well in ‰ Freeport, Texas, from FERC. Queensland Curtis LNG export plant. „Œ›    ­­      ƒ—
capacity of 10 million cf, with first production due in countries that do not have an FTA with the US. Corporation 10%, joining Japex and PetroleumBrunei Germany by 2016 started. ˆƒ • ExxonMobil began producing LNG from its $19 • Petrofac won a $970 million contract for the gas ƒ‚ drilled in Block 1, offshore Tanzania. The find is potential. AUGUST Block 4, offshore Tanzania. • Petronas awarded an EPC contract for a 5 million • Russian President Vladimir Putin said the Œ € 
   


 ƒ

2016. • PetroChina discovered a major gas deposit in the as stakeholders. billion, 6.9 million t/y LNG plant in Papua New gathering, treatment and export facilities package estimated at 1 trillion cf. • Line C of the Central Asia-China gas pipeline • Lithuania signed a deal with Statoil to supply LNG SEPTEMBER • Petrobras discovered gas at the 3-ESS-222 well, t/y LNG import terminal in Johor, Malaysia, to proposed $40 billion South Stream Pipeline would
• Mexico’s Pemex and Guatemala agreed to build a $1.2 Sichuan basin, southwest China. The Anyue field in APRIL ‚ Guinea. for the Reggane North development in southern • Statoil discovered gas with the Piri-1 well, drilled
”  inaugurated. The 14 billion cm/y pipeline runs to its new import terminal at Klaipeda from 2015. • Sapura Kencana hit has at the Bakong-1 well in drilled in the Espirito Santo basin post-salt, Samsung C&T.    not
€ go
 ƒahead.

€ƒ­ ‘—• ˆ–††ƒ ˆ–‹†‰ „–ˆƒ„ „–ƒŠˆ „–…„ƒ Š–†Š€ Š–ŠƒŠ „‚„˜
billion, 600km gas pipeline linking the two countries, the Moxi Block is said to hold technically recoverable MARCH • Turkey and Russia agreed to raise the capacity of the
…
…
 ­­ £†€•‹ 
• Tohoku Electric Power signed a deal with Algeria. in Block 2, offshore Tanzania. from Turkmenistan through Uzbekistan and • Singapore LNG awarded a S$700 million EPC the SK408 PSC Area, offshore Malaysia. offshore Brazil. • Centrica Energy hit gas with the Pegasus West
to be operational by 2016. reserves of more than 300 billion cm. • Petronet LNG handed Toyo Engineering won an EPC Blue Stream pipeline from 16 billion cm/y to 19 billion Mitsubishi for 300,000 t/y of LNG for 16 years • Worley Parsons won a contract for the $11.7 ‹
¦Œ   ­ ­          —
  
­ • Algeria’s Sonatrach agreed to deliver five cargoes Kazakhstan to China’s western region. contract for the Phase 3 expansion of the • Russia and China started construction of the • Sonatrach and Gazprom hit gas discovery in the exploration well in the UK North Sea.
 ­
• Petrobras brought its third LNG import terminal at • ExxonMobil started production at the Damar field, contract for the 5 million t/y expansion of the Dahej cm/y. 
  from Cameron LNG, starting in 2022. billion Tanap pipeline connecting Turkey and to Egypt’s new LNG import terminal at Ain Singapore LNG import terminal to Samsung C&T Power of Siberia pipeline. El Assel area in Block 236b, in Algeria’s Berkine  € 

  

  

€†† „ ”
“…
Salvador, in Bahia, Brazil, on line. offshore east Malaysia, with a projected capacity of LNG import terminal. The plant is scheduled to be • Cheniere Energy signed an SPA with Endesa for
   • NCOC confirmed that two 88.5km gas pipelines Greece. Sokhna. Corporation. The contract includes a 260,000 cm • BP and Tokyo Electric Power signed an SPA for 1.2 basin.   

 ¡‹“†Š •‹ ‰€†ˆ ‰€†„ ‰€†Š ‰€†‡   Ž   


  



‰€†ƒ ‰€†€ ‰€†‰ ‰€†… ‰€†‹
…      
    
›…„’€
›•
Ž „„
˜‡Žƒ
™    
­ „Œ     ­ ­   —
   
  Œ‡  ›†
 –‹§›
¨     ‰     
–




  
  
   
  
  

  Š 


     

     


…
„†  „
 ”  
      
    

     ­ 

 
¡‹“†Š •¡   † 
 
”Œ ‹“”    Œ 


¡ ­† “•¡ ˜„™ 

­ ˆ  

„†€ …  †Œ   ­  ­  ­ —



„†‰ ‡ ˜

 ™
„†…  ƒ —ƒ
 ˜“


 ˆ „Ÿ        ­ —
Œ” •” 

„
„
¡ ¢† ‹•Š  ž¦Ž§ƒ  š… …
 ˜Œ ™ 
 ¡„            —
  
…


‡† Ž” ‘
 Ž
 …
ƒ –   “ –“ “  „„
     „ € ž

 ˜“ ‘    
    

 ‰     
   
    “
Š “
 ‰ƒ†ˆ ‰ƒ†„ … ”Œ• „–†ƒ† Š–ƒŠ„ Š–‹…„ ƒ–„ƒ‡ ƒ–‰„‰ €–††… €–Š…‹ ˆ‚‰˜
‰ƒ†Š ‰ƒ†ƒ ‰ƒ†€ ‰ƒ†… ¤
… —… 
… ‰ƒ†‰ Š
 

 “ 
¡ “†‹Š•‹


 € ‹   








    
‡ — “  ˜ 
™  
   ”   


– 
“ „

 

€Œ­ ‡„      




 ’
 
€
’€ “   ” 


†

 ¥   ƒ Ÿ 


 •





‡…“
 

††š


   ‡
† ‡  


€’€  
  


“ ƒ
‹   ˜


“˜“
‚ 
‚  
     …†‡ˆ‰Š



 “ 



Š 

 €„… 
“ 
…







„
                
€  



 

„
ƒ

   
€

  ‰ƒ†‹  
“



„ 


— ”“Ž —“ “ 
‡    
 


€  ­“ £†‹ •‹ ž†  € 
  “
€‹    —“ 
 
•  ŒŸ‡† €†‹Œ§›€¨ …  ‰Š†ˆ ‰Š†„ ‰Š†Š ‰Š†ƒ
–  ““ – “  “
… ƒ“
 ” Ž…
‰Š†€ ‰Š†‰ ‰Š†‰
      
 
ˆŽ

• ƒ“ ˆŒ ¡“ ‘  
œ
™ 
€€  —’   
–        








–£“¤ „Œ ŽŒ€†  …  

‹

’ƒ  †… 
“ “

 

…
† ‡   €
   ‡† ŠŒ† Œ
†‰Œ§Š
‰¨ ‡ 
–
 
– ””
©  ˜     „†Š
‰›    –  ƒ …“
€ 
”” € … ˜“

 
‰   
 … — ‡     ŠŠ  


ƒ“
˜’Š“
•  
€ 


 ‡ 
 
Žœ† ”   ›…  œ“  
 … „ € 


…  — ˜
 
˜’–   

Π
—“… 


Œ”‘Š
‰ €†† ™  


 ‡   
˜ €  “     € “
“


 


…
 „„
     …  – …      “ – €


 ”

ƒ
 ˆ” “      “ ““ – “

 €  € ‡ › ƒ ‡ƒ
Ž …“
–  € 


– 
Ž‰
„




€
‚  €  ’ŒŒ  – 

‹
 
ƒ –
   “
“   …“ 
Žƒ Ž “  ˜


    † ‰„†ˆ ‰„†„ 
˜ “  ’ ” 
  ‰„†Š ‰„†ƒ     “
„ 
 


 ” „
 
ˆ†Œ –    ¡† ‹‡   – 
 …š
  
€  “   
“ 
     ” • …   “ƒ   “   “  PETROLEUM ECONOMIST
    ‡
ƒ 
    
  “ “ …“ €   




 † †  ”
 ˜ a division of Euromoney Global Ltd
‹


… €†ƒ   
 ­€ ‚ƒ
   “’–“
¢—Œ
Ž   
 ƒ  “   “
“
“   „…†…‡‡‡ˆ……‰Š „…†…‡‡‡ˆˆˆ‹ˆŒ
ƒ
 
    •••‰Ž ‰ Ž ‘ ’“Ž ‰
­‰
   Œ… €
‚ …
­
 
‹€
‚
 ” Š“ “

š

…   
 “  ‚† • Ž   
  ““
ƒ     
’



“
«‡
¬€Œ €†Œ ‰ ” ‡€† ©  ˜       ™…  ” 
        “
–  
     ˆ ƒ£Ž ¤ ‰ ˆ ““  ƒ   –   ˜“’’ 
  –  
ˆ ““

Œ
‡“Ž 

ˆ•‡ 

•   
–“ ” –“   

­
‚
ƒ
  “ƒ£Ž ¤ ™…  
 – €
   … €’ ƒ    ˆ  …
“…“
“ 

‹
“Œ
‘ ‡ 
–  Š  
 Š ’‡“ “
– 
ƒ“    
 
 
  €  „   
 –… “
  … ” „„   


      ‹    ‹ŠŸ„ Œ

Œ
¡‰
    €
  … €£“¤        ¦•¬§ Œ
€ Ÿ ‡¡ ‡ €ƒ        ˆ“
 ‚
—

•
  ˜ ˆ 
    ’ ’ˆ  “ …€Œ †
–“Ÿ† ‹ Š†‹„ ‹


€   “
€ 
 ¡‘ “  …  ‚ ‹…
…–    
 …
 – 
“ “˜

€    – “ 
  …   
•    ƒ   ’’
 „‚ ˆ

 €Œ   ‘

“
€ Ÿ ‡Œ¡‰ ’
€ ‰  — 
­ 

   ¦•«§ 
†Œ
‡†‹ ƒ  € “ŠŠ
  ƒ  €    ‹
 €     –  ˆ˜“
€ Ÿ ‡‰Œ
  
 ‡   “  
’ “  …

   


€ 
¡‰ «‡
¬€Œ €†Œ 
  …   ‰ ‡ € “   
„“ –“
  
   Ž   
 
–   –’
 ‹ 
‡–
ˆ  Ž‰  •
†Œ
‡†¡‰€œ  „†† 
 €†   €
 
  –  



  ƒ  †ƒ€Š     “
””“  
€   ‡  …  • ˆ    
žš
›‡
žš
›ž††‘ ž‚„
‰¤Œ  ‘ŒŸ
‡–Š†† †€‹¡¡

’¡‰Ž† ”
€ 

 
  
   „Œ  ƒ  ƒ 
 €  
 

 


   ª
‡–‚„Š „††‡ŒŒ– 


  ‘ ‡ ’ ’      “
 † Ž    …   
  ŽŽ  ¨    …
  ƒ   
  ƒ  
 
   

 
 € “  “  “ “
 “‰  ˆ 
€”      “     


   ƒ  
 Ž   
 „ €„‡
‡  



ˆ 
  •
€ 
   
ƒ  
ƒ€     €     ¡ 
  –   Œ ”‹’ˆ††
­­€€
    
  ”         €’  €ƒ ƒ 
 €…Œ‡
  €‚­€€€ƒ„€
 “ ƒ“ €     Š… 
“ •’ Š­ŠŠ 
… ‚
  
ƒ …  ”— “    “   
 
€  € “ Š   ˆ   •’ ŠŠŠ
  —“ 
 „ ª€† Œ
 €   €


€ ­ƒ€­€ 


  ”     “    ‡

     
   € “…  “ “  €       ‹  
‚ 
 –ŒŸ‹‰†”†¡  €€ ƒƒ ƒ ƒ‚


ˆ Š    …  –““

      –     
 
  “
•’ Š
ˆƒ
ƒ ¡ ˆ”‹ ‚ €­ € ƒ


’ Ž  ’ Ž  … 

   

 €    ¦§ 
   
€„ƒ 

 €€ €­ 
ƒ 
‚      – ””“ —  ˆ
  Ÿ‡ ŒŸ‡Œ


  €„
 „ ™   ƒ    €
         

    
     Ž
Š €…   Š 

‹“‡Œ–Œ‡”
    


     „      € ƒ‚     
 
 €   
—   “ƒ “‡‡ ŒŸ‡”†Œ‡
 Ž ‡
  ˆ              
Š 
— ˜€ƒ£ ­¤  
‡  … Š 

  ­€
 

    ““   “ ­€€  € 

 Ž    ŽŽ      “ ™… ƒ  €“
          Š¢       
  œˆ‹‰ˆ‹‰Š‰Š„            ƒ     
 Ž    

   

 ‹  “ 
­€ …€ ‚  ‚ 
ƒ  
€  ’ ‰  …  ” ““ƒ¬–  ƒ  ƒ ‚
 
  
 
   ‡    ˜Š    –“ “
€ 


“Ž  
“   ’Ž ˆ™”   €“ — 
ŒƒŒ€† ¤ ¤   …    •” 
 
ˆƒ£¤ „  ”     — “ 
  ’œ
Ž‰   

–  €    € 
ƒ  —  € — 
  •“

 “ €   “  
•  
  „ ¡˜ ”
Œ “  Œ  ƒ 
 ‰    … ƒ€¬£Š“ ¤  
 “
  ”
€ ­ ­• 
€   …‰   
  ”ƒ¬™
˜    Ž Š¦‡
§
ˆ   ”  …„“  ‚ ³ ƒ
ˆ ‰ ˆ
  Ž € “’Ž’“’Š£€Š¤  ƒ
Œ “ – Œ  ’’­    €„  €  
   
“… 
 ”ƒ«™ ™” –  € … 
ƒ€«£Š“ ¤   
‹  ”  
€  ™   
         £ƒ“¤€ƒ£ ´¤ …Š

Š“
 
 „
‚  ƒ
– 
Œ  –   ”ƒ®™  
ˆ
  ”
–
‡…
ƒ 

  ƒ ƒ“ …Š   •   ƒ
Œ “ –    ƒ“     … € “  
  ‰
€
…   …
Ž„
–
‚ 

 •  
ƒ Ž
  ’’­   ƒ…
   
 
 
  

 “
‚„  ™ 
™ ƒ
Œ  –
     ”
  Žƒ    ‡
  ŽŽ
   ƒ    „ …
‡  ƒ‰  
€  š 
  ­ …


 “ –   ™

 
…    ” „  
 ™„ƒ


Œ “ –    ’’­ •ƒ    — 


  ‡   ƒ

  ‡
  

›

   ‡  ƒ  ƒ  

™ 
 Œš 



 ƒ   –Ž„
€  “



Š  “ 


Œ  –   ƒ

 


      Š   ˆ… 


  ’’……
 
„

Š  


Œ “ ’’­–  ™ 

 Œš  …


 
…ƒ ‡    ƒ —  ƒ “  “ ƒ
 Ž
  €    






 „
™ 
 Œš   Š€ª
    ‡ 

•

 Š… ˆ ƒŽŽ –      ‡ „ƒ — 


 ’Œ‘–


‚  ”
Œ  –  …ƒ€¬­€«   ŽƒŽ      ˆ ƒ

  
   
‹

„ …



”


†
   ’’­

  ­€


 
   ˆ …
‡ „
–  “ –  ‚  €    €”
 ˆŽ


   

  
 ˆ    


 –
™ 
 Œš ™ 
 Œš …ƒ€®­€¯  ­  ’  


 ƒ    —… 
 ’Š£€Š¤ ƒ 
ˆ


„„ •
  ” 
‹

 ˆ 
‚ƒ„…­€ ­€‚ƒ„
 

… ” ‡
 ’   ƒ 
“

 Œ¤        
 €ƒ  


…  

 — ’
 

— ’
™ 
 Œš ƒ †‡€†

€‡­ˆ­ 
 …   
  – “  


   ™ 

Ž   – ’ 
ƒ   
€  …†”­ƒ’Š­ ‰…Šˆ€‡­‹
 Œ 
ƒ£‚¤
–     


   

ŒŒ


 •Ž
ˆ„ 

‚
™ ƒ
–   
”

     

 ˆ„
  œˆœ„Š–†††–††† ‹     ŠŒ‡‘¡‰


€ ‰  ‚ƒ     ™„

      „  …
  ƒ 


 
™ 
 Œš Š …


 ”


  …
 €     
“
š† –Œ ‘
 
”     
   ˆ        

ˆ  €­ŠŠ‚­ˆ‹ŒŽŽŽ €Šƒ — 
 



 



– “  ˆ Ž
ƒ 
   
  ƒ’ …†‚Šƒ’Š 
ˆ£ˆŠ¤Š¨ŠŠ  …




‘‡ ‘ ‹

 –  
Œ“
“

      

  

ƒ      …   ‚

ƒ„
…€
‚    ƒ†„ƒ€­  ‰ €‚ƒ„…†‡…ˆ €’  ˆ… 
…
“ 
—¥ ‹Œ“
ž‘ 
    ‚
ƒ‚‚­“ƒ­ €­Š­‘‘­ˆŒ­‡­…  –“
„ €‚
     
 


…

””  ’’ …ˆ‰Š…‹Œ†Ž   ‚¬€¬’€®


”­          
Š ƒ€ƒ’  
  … 


 
‡††““ƒ   
 
 ˜Š   ‚«€¯
 ˆ… ’  “ 

¢ ž ‡‡¡‰
†‚ƒ€ƒ‘…Œ†Ž ‡ ’’‡  ” ƒ
 –– 
…ƒƒ ¡

ƒ“ƒ  •

  Œ¡‰
–  
‚ƒ€’€‚ ‚…’ƒ    Ž —ƒ ‚«€°
  
ƒ 


 


‚† ƒ“¥ †‡ˆŠ­


— 
Ž” †…‡Œ‚­Ž †€ˆƒ€­  “     Ž‹‡ ‡‘¡‰



€†‹‡
  

„ ‚­€‚ƒ‰‰­
 ”
  €

„„  ‚®€²   
 €     

  
…  

 

Š’……      €  ‡ 

…
‚    ……‡ƒ 
 †€ˆ   –  ‚®€ª 
‡ ‡¡‰
              ¡‰
   


  
 
…        €’  ¬€¬’€«
…
‡¡‰§•Ž†¨
   
     ¡‰


 –    – 


ƒ  –Ÿ Œ   €

 ƒ   ’’


…
‡¡‰
  «€®


 ‡ 
 •
•
 Š
””€† 
  ƒ  ƒ€¬


 
– 
ŽŽ ”“’   ¢ •Œ¡‰
  –  ¤‘‘ ‡¡‰


”š
      «€¯
¡
•Œ¡‰


    
ƒ€«’€® •Ž „£•¤ “  ‡ƒŠŠ£ ¤
 

‹ Š €” ”

 

€€
  Œ‡¡‰


 
              ¤‘‘ ‡¡‰





    «€°


   ƒ€¯  
   “  •
 
  ’“
…  ž ‡¡‰
     
 




ˆ
Ž”‰Œ€†

 “
™… 




 ®€² ”‘Š¦ŠŠ  

…„
  ƒ  £ƒ¤ ‚†Œ


  ƒ 
 
…        £



   ƒ  ¡‰
 ‹  ”  



”




 ®€ª ‡ƒŠ£– ”¤

“
    €ƒ   žœ¦žœ¡‰


”

€ ƒ ‡  …„
 •  
   ƒ…    €ƒ ˆŒ
  



     €ƒŠ­ŠŠ 
 


               


ƒ  
 




‹  ”  
 žŒ‘ ‡¡‰
ž ŸŒ
„   €    – ƒ ‘¡‰
 žŒ‡›‡Œ‡



“… 
ˆ  
 
ŽŽ £
¤ ƒ…

  
‰Š
ƒ  

  
  Ž”¡‰


‰©

‰  ‡Œ›ŸŸŒ‡€†


     ƒ£ Š¤€¬¨€«

 –…
   ƒ
 
   
 –  ˆ“ 
 
 
ƒŠŠ£ˆ
¤
ž”‘¡‰ ¤
‘‹¡‰ ›‡Œ‡¡‰


    ‡ƒ “ƒ ƒŠŠŠ£€Š¤

“ ‘ ¡‰ ‡¡‰ Œ‡
€¡ŒŒ € 
  ˆ 
 
Š Œ ¡ –††  ƒ£ Š¤€®
  ­“  Œ‘¡‰ ›¡‰
  
  
Ž   Œ‡¡‰


 



 ˜‘™ 
      Š£ƒ¤   ’Œ‡¡‰ ˆ‘‘¡‰ 
       

€ƒƒ€
  ƒ£ Š¤€¯­°±ƒ   
   Ž   –   ’£–¤



š›     ƒ   €  ’    
– ˜‚™ – € “

ƒ

„ ’ƒ ƒ‰   

ˆ    ‹

—   ƒ  Š

 
‹


“  
’
 € ŒŽ“ ƒ 
’
 …‡    
       


 ƒƒ… ‹ † ƒ    
„† ¡‰Ž     ”Š €  € 


…

‰†€ ‚ ‚‚  
   


€ˆ … ‡Ÿ†   ‡ƒ  Š   
„† ¡‰ŽƒŽ    ‡ 
   …
  ‡


—

‚
… 
 Š ’–
˜
 ™ € €…    


„† ¡‰Ž
ŒŒŠŒ† €†    
ƒ „     ’ˆ’ …
‡    •£ ¤    “ 

    
  

    €“ ™…  

† 
  ’   
‚ Ž  
  
•ŽƒŽ ˆ ‰­‰ˆ


€
‚ 

 


      ƒ  …


 ˆƒ‰‚­€
€‡­
    “
 € „ ‚ 
 
 Ž

    
  
  
 –  €  
 ˆ     

 


‘  
‚ 
 ‡          Ž
 
 
    „    

 ‡
ˆ
€
‚ 
 
Œ
”

ˆ 
 “ ƒ



  ­
€
‚  ‘†–ž
    ˆ”ƒ 
ƒ 
 ƒ „ ”­  
 

  †‰

   
ˆ 
 “
ƒ … …
”†
ƒ   ‡††““ƒ ¡  Š
™š ‰
„Ž
Ž
ˆ¡„’€ž„Š€
›•
Ž
Œ ’’­ ’’“  †¡‰§¡‘
‡†Œ¨   ƒ … € ” ž
¡  

• 
…

 
ƒ     
ƒ“ƒ  

  œ†‡Œ‡ ††‡ ŒŒ‹     •   
   ‰†Ÿ
Œ


™
Œš
  ‚ †
ˆ”

–†Œ ‡ŒŒ  Œ  ¡‘

‡†Œ ƒ’  
    †”“Œ“€
…
¡Ÿ‹ €Œ †
‰†Ÿ¡‰
†‹


 ’€   

 ‹   ‚† ƒ“¥  

 ž –
‹  ”   ‚Ž
‡
 †
 € 

 œ„‹Ÿ‡Ÿ††“† ¡‘
‡†Œ ”   
•

   ‚  


‡‡Œ – †† ŒŒ‹–†Œ”‡ŒŒ
 Œ

™Œ
š Œ
 
Š… 
 ¢…  • ƒ  ‡ƒ
Œ †‡‡Œ – –†Ÿ† † €“

  …
 ˆ
…
Ž


†–†‡‡Œ – ŸŸ †

¡‰
      



  • ƒ¯


  
„Œ‡ ‚ž Ÿ €†¡‰€†

ž


” ‘†‡‡Œ‡ ž ŒŸ„§ž›„¨


€„‡ Š Œ†
‹ 



”€ŒŒ
¡‰     
 „ ˆ•  
¡ŸŠ§¡›Š¨ †–¡‰‡ ‹‚†


•°
“



 ……
 


Š €
Œ‡‡‡Œ – –†Ÿ‡ˆ †‹   —  ž




‰† €ŒŒ ”Œ


£€ ¤

 ‘ 



†‹
ŒŒ§ˆ

¨‚†ŸŸŒ‡‡‡Œ
  ‚ 
  ž  



”€ŒŒ¡‰    ƒ


 
‰† €ŒŒ¡‰ ˆŒ‡“
‹ 
‹ ¡Œ¡‰ †  



 – –†Ÿ‡‚ Œ
Œ‰ §‚
‰¨ ˆ”’ …




„


  …  
ŽŒ
‹   



€ ”
 ‡„ Œ§„
„¨ ”€ŒŒ¡‰Ž¦Ž 
ƒ¦ ’§   ž

„
‰† €ŒŒ¡‰ €ŒŒ‹ž”     


 

—


Š


 ……  

‰ ŠŒ†  




“œŠ†‡Œ †‹”†  – ”€ŒŒ¡‰Ž¦Ž  

 ”
    ” “     š
¡‰Ÿ‡‘ ˆ ‡ ‡ ”   ˆ 
 ž


 
… 


”

‰†–Œ ”€ŒŒ¡‰Ž¦Ž ””“   
­

•ˆ    
    €Ž  
“

ˆ¡‰ €       ž
 ”
 Š  …

‚
ˆ    „ ƒ   ”“      
• ƒ


ˆ  ‰

 „Œ†¡‰ ‚ ƒ£‚ƒ¤ 
 ­€  „       ‡



„  
…   Š      “ 




ˆ¡‰  … •   ƒ ”
      ”
    
 Ž †      Œ†ƒ”Œ€† 
„Œ†¡‰ 
   Žƒ£ƒ¤
‡
 
 
€¡–  ˆ¡‰Œ ’   ž   
£”


   ƒ£ƒ¤
 †¡Ÿ 
‚
 
‡



     
  
 
 
–   

  ž
 
 
        


““‹  ‡               …  
 … 

 †
    ”“


 
 † ‡   
 
“
›
™›š    
 €  
Œ† –“     ‰¡‰ €†¡‰  


  
 
    €       …    ž ‡ ˆ ’ …  “‹ …
‘

”
 
  …ƒ
  „  Ž  “ 
 ” 
”
  
  

  ‡ 
     ‹ Œ “  ƒŒ†€†
• ’   
  •  ””“  …

”
‡  
 
  
„ 
 ”  ”  “     ƒƒœ”

Œ
‡Œ¡‰  Š‹ 
 ‰    ƒ    …



 
 ˆ 
   
   ƒ „
’ 
 Ž 
 ”­

 
    “
 
 “ €   “  
  ˆ …

  ˆ Œ Ž   €†”¡‰€†     ‡††““ƒ …         



  

Œ
‡Œ  
€
  
“



 
 …  ƒ   

 – 
…
“

 Œ 
  Ž ‚  ƒ  ’ˆ …  ‡Œ¡‰€† ƒ“ƒ

 €” 


Ÿ



‡   ‚ ˆ    …
ˆ    
  ‡
‹  ”  
† 



 •‹


‰ ‚  ¦‡
§ 

   ˆ‘

†

 „
ˆ    Š   ž” ƒ 
   €ƒŽ –” ”

“ 

‡ ‚ 

   
Š
‘’€


“€

ˆ 
  †     

 •
 
„ „… ‚  ‚ˆ 
  ƒ „ ƒ    

  … 

”
    



              …  ƒƒ   ŽŽ – 
 


Š

 

ˆ 
‚   ’ƒ      




   


‚    ’ … 

 ƒ   ƒ  Š €
 †‡„ ˆ‘  …   ••



ƒ ‰ˆ 
…  
€
ƒ¦‡
§  ’ € ”

 •
‚ Ž¡‰   
 


 ƒ … 
‘  
 
   
…   “
   ­
‘
 
 ‘†–ž
€ 


    
 
‘ ‰
    
 ‡‡€†       … 
“    
‡ 
“ ‘
ˆ  

 
 
”­
   
€† ƒ† ‡ €†”¡‰€†  ” 
… 
  
    

  

 ›Œ†“ 





 
‡††““ƒ ”¡‰


‡Œ¡‰


„   „Œ‡”‡  


‡  ”ˆ¡‰ Œ    
ƒ“ƒ
…“Œ–††   €  
†–† 
     

•‹  œ   €†”ˆ¡‰
ˆ   
ŽŒ¡‰ 
†
 ‚† ƒ“¥     
 — 
›—
¡Ÿ‚“Œ
    “  
    …

       

 …       

››
›
 

  …€Œ †
–“  € 

†

­
€
‚  ‹  

  …€Œ †
–“
      
Œ
    
€„† “  ˆ 


   
 ”­  

” 
 

‡††““ƒ  “    
 ‹ Œ “  † ”  “  
…         
               
    
‘ ’     Ÿ
  
  ƒ“ƒ   
‘ ’ 
ƒ‹‡‚† 
 ‰Š‡‚„  
    



­
  ‚   — — 
­
 
‚    — — ‹‡‡
‹‡‡‚ˆ  ‚† ƒ“¥
Ž‘
   ”
  — — ‡„Š
‡„Š‚€

…
   

    ƒ— — Š      ­ — —


   ­ ƒ—  —   ­
  ‡„Š‚€ ‡†„‚‡ „‚…˜ „…‚‹˜


  ­
  ‹‡‡‚ˆ ‹‡ƒ‚„ †‚‡˜ „‰‚‡˜

’  …  
„     — —


„†ƒ‚Š 
’ 
        …        †
 …†     ­— — ˆ„Š‚Š
„     ƒ— —      
 
…„ƒž§Œ’†¨
‡†   ƒ­— —
…†–   — — ”Œ•
†”   ­ ­— — ”Œ•
” „†ˆŠ
 
 
   
 

     ƒ — ˜ „†ˆŠ
…†  ­ — —    
… €   ƒ — —

†”   — —   Š–Š‰‡‚‡  
 Œˆ€‚ Ž  ™Ž”   —  —   Š–Šƒ…‚‰
€  ­ — —  ‚—‚
 
“         š†   ƒ— ­— ƒ„‹‚Š 
—‚
 
Ž  ™Ž”    — — ˆ…‰‚ƒ
 ›‡™
„      — —
 

 •    
ˆ‰‹‚‰



 
   ‚—‚
  ˆ‰‹‚‰ ˆ‰„‚Š ƒ‚„˜ €‚†˜
š†  ­ ƒ— — €‰‹‚„   

›‡™
„   ­ ƒ— 
— ƒ  „Œ  ­ ƒ­— —
 ‚—‚
  ˆ…‰‚ƒ ˆ…ƒ‚Š ˆ‚€˜ €‚„˜ „”œ   — —
  …†Œ   — —
“

 
  …†  ­ ƒ— —
‘ ’ 

World Gas Map

„”œ   —  —
‘ ’  …†    ƒ— — „†Š‚‰
‘   ƒ— — „†ˆ‚€
 ‡
”†   — —
ƒ—
 
’ 
‰‹  ­ — 
’        …       ‘   ­ ƒ— —
ˆ†   ƒ — — ˆ–†‰ƒ‚…  ƒƒ‚‰
Š†‹    ­ 
ƒ­­— — ˆ–†Š„‚‡
 ……‚€
­
   ­
 
’‘‡Œ   ˆ     — —  
“ — —   …ˆŠ‚ƒ      ‰‹     — — ˆ„‹‚†
…ˆˆ‚…

‡† Œ   ­   ­— — ˆŠ„‚Š 
 ‰    ƒ— —
“‹    
 ƒ— —  
  
  ž‹   ƒ— —
€†   ƒ— — 
Š 

 
ˆ ‰‡ˆ€‚
”† ŸŠ†   ƒ— —
”Œ• Š†‹    ƒ— ­— ”Œ•

  Š ­ — — ˆ‡‡ƒ   ’‘‡Œ   ­— — ˆ‡‡ƒ
 ‹ Œ “  ”    ‹  ”  


ŒŒˆ  
  ­ —  ­—


 

„–†…‡‚Š ¡‡    ƒ— — „–†‰ˆ‚€

Ž‘Œ      — — Š ‡† Œ    — —
…    


2015 edition
‚‘ ­  — — Žœ… “‹   — —
 

 ‹ Œ “  ”    ‹  ”  
­ 

‚ ’   ­ ƒ­— — ‚—‚

  €†    — — ‚—‚
 


€†   ƒ­— —

 

 

‰‹‚‡ ‰‹‚„


‚”‘Œ  ­ ƒ— —

 





   ƒ — —





 



 



›‡™Œ     ƒ— — ‡†€‚‡




ŒŒˆ    ƒ— —





‹‹‰‚†






  ˆ–†Š„‚‡ ˆ–†„‹‚ˆ †‚…˜ Š†‚‰˜ †–‘  ­ — —
 


Produced by Petroleum Economist, a division of Euromoney Global Ltd., 


“ 
­



ƒ —
ƒ—
­—
˜


…‡    — — 
  
  “†   — — 

…     

Š   — ­—  

            ­
in partnership with  Ž‘‹   — —
    
     

Š    ƒ— ˜
    ­  Ž‘Œ   ƒ—  —
Š–€†† ‚‘  ­ ƒ­— — Š–€††
’“    — — €
   
‚ ­       ƒ    
 ‚ ’       ƒ— —
› ­  — ­— ‚”‘Œ  ­ ƒ— —
¢   —  —  ƒ ‚ ­
  €‚€ƒ „‚…€  †‚ƒ‡    ˆ‚‰†   „‚ŠŠ †‚‹€  †‚ŠŠ      †‚†‹ †‚Š‹  ˆƒ‚Š€   ›‡™Œ ­  ƒ­— —  ƒ ‚

 

 „”  ­­ — — ‚   ˆ–†‰ƒ‚… ˆ–†‹„‚‰ ‘ˆ‚ƒ˜ Šˆ‚…˜ ‚
‹   ƒ— — Š–††† „  „ ­     ­     ‡  Š–††† „ 
€­  …†    ­  ­   ƒ   ­ Š    — —
‚ „”Œ   —  — ŠŒ† ­   — —
€­ 
¤    — —  ­
‡† ­­     ­
’“    ƒ­— —
 

›‡ †Œ   — —

 Œ
  ‹‚†Š   †‚ƒ‡ †‚†‹ †‚†‡ †‚„Š  ˆ‚ƒ€   ˆ‚Š‰ †‚Š‹      ˆ‚†„  †‚ŠŠ  ˆ‚Š†  ˆƒ‚…‰  ¢ ­  — — 
…  „”  ­­ — —


   €‰‹‚„ €ƒ€‚€ ƒ‚€˜ ˆ‰‚‹˜ „–€†† …†    ƒ­  „–€††
‚ „”Œ   — —
ˆ      ­ ƒ  ›‡ †Œ   — —
„†    ƒ— — ‰       ƒ„‹‚Š ƒˆ„‚‡ ƒ‚†˜ ˆ„‚‹˜
‹  ­ ƒ  —  — 
Š†‹     ­ „†   — —
¡”‹   ƒ— — ‡† Œ   ƒ 
   ƒ— — „–††† 
 ‹   ƒ— — „–†††
€†   ­    ƒ    …†‘ …ƒ•–€†   ‡„Ÿ  ­  ƒ— —
›‡„Ÿ     — —          ­  ƒ   ›‡„Ÿ     — —
 
’  „†ƒ‚Š „ˆ‰‚Š ‘€‚Š˜ ‰‚†˜ Ž‘‹             
  
’  ˆ„Š‚Š ˆ„Š‚† †‚‰˜ Š‚…˜
‚’      ­ ­   ‰ †ˆ€‚
„Œ† ­  ƒ­— — Ž „‚€„ ˆ‚€ˆ  „‚‰€ ˆŠ‚†…  †‚Š‰  ‰‚…‰  †‚„ƒ „Š‚‰ˆ †‚†‡      ‘ˆ‚„†  ‘†‚ŠŠ ‘†‚„‰ ‘„‚ƒƒ ‘†‚†… ƒ‰‚€ˆ „Œ†  ­  ƒ— —
ˆ–€†† …† Œ‡ ­  —  — ˆ–€††
…† Œ‡ ­  — —
‡   — —
…   ƒ— — ’“     ¡“¡“ 
‡ž’„
  ƒ— —

‡     ­— — ”    ­  Š›Š„€„Ž
š¡›€Ž§Š¨ Š    ƒ— —
Š     ƒ— — ŠŒ†     Š Œ    — —
ˆ–†††   †‚„ƒ    †‚†‹  †‚ˆ…  †‚Š„   Š‚ˆ€  †‚†‹         †‚„Š  ƒ‚„… • ­ ­ — — ˆ–†††
Š Œ     ƒ — — †‹Œ    ƒ— —
†‹Œ ­  — — “£†   — —
‹    — —
‡   ­    ­ ­­ ­       ­ €‘Œ   ƒ— —
€‘Œ   ƒ— — Š  ­            €‡†Œ    ƒ— —
Ž‡†   — — €††
•   ­ ­      ­     
       ­   ­ 

   ­ — —
€††
†‹Œ            ‡’   ­— —
š ­ ­ — — Ž“   — —
›‡„Œ€ Ÿ    — —      Ž‡†   — —
‡’ ­      ­             ­          š ­ ­ — —
 
 ’  ƒ‹‡‚† ƒ‹ƒ‚‡ ˆ‚ˆ˜ ˆƒ‚€˜ Ž“           ­ ­    ›‡„Œ€ Ÿ     — —
† Ž‡†         
 ’  ‰Š‡‚„ ‰„…‚ˆ „‚„˜ ˆ‡‚†˜ †
 ”  Š–Š‰‡‚‡ Š–ŠƒŠ‚Š ˆ‚ˆ˜ ˆ††‚†˜ ­­ ­­ ­­ ­­  ­­ ­­­           ­    
 ’  ˆ‚‰† ˆ‚‰ƒ ˆŠ‚‡„ †‚‰‰ ˆ‚Š† †‚Šƒ „‚‡„ €‚†… ˆˆ‚‡‡ …‚„† ˆˆ‚ˆƒ …Š‚†€ …‚‡… „‡‚ƒ… ‡‚„„ „ˆ‚…Š ŠŠ‚†€  †‚ˆ‹   †‚ˆ‹ †‚€Š †‚†… „ŠŠ‚„Š ­­ ­­ ­­ ­­  ­­ ­­­           ­    
 ”  Š–Šƒ…‚‰ Š–Šˆ†‚‹ ˆ‚ƒ˜ ˆ††‚†˜
 “ ˆ…‚‡Š €‚‡† ˆŠ‚‡„ ƒ‚„‡ ˆƒ‚€Š †‚ƒŠ Š‚‰‹ €‚†… „„‚ˆ„ …‚„† ˆˆ‚Š‹ ˆ†Š‚€† ‡‚„‡ „‡‚€€ ‡‚„„ „„‚†‰ ŠŠ‚†€        ŠˆŠ‚ˆ„
 
 
 
 