Natural Gas World Market Essay

1806 Words May 24th, 2011 8 Pages
Contents
Introduction Table .1
OPEC Graph.1
Major Natural gas producers Graph.2
Gas Exporting Countries Forum (GECF)
Natural gas Demand & Price
Natural gas could be the 100% replacement of crude oil’
Conclusion

1. Introduction
Natural gas is a very important energy source in the world and it is the cleanest and most hydrogen rich of all the hydrocarbon energy sources and it has high energy conversation efficiencies for power generation [1]. In olden days natural
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They also indented to improve the business communication between the countries

Graph.1 Production Ratio in the world in billion cubic meters. Source: BP Statistical review of world energy 2010 Russia: Current global energy market is really tight because of crude oil price and the economic problems. As per the proven reserve 1600 Trillion cubic feet gas is inside Russia. Now a day’s Russia playing an important role in these natural gas market. Russia has attempting to involve the export from the independent states like Azerbaijan, Kazakhstan, Turkmenistan and Uzbekistan. They have very close relation between Iran, Libya and Venezuela. These actions indicate the Russia involving the strategic game opposite to the OPEC. Gazprom is the largest govt owned company for Natural Gas. Russia’s natural gas industry having any problems because of aging the fields and state regulation, Gazprom’s supreme control on this industry and insufficient export pipelines.The major fields in Russia in western Siberia-urengoy,yamburg and medvezh’ye. In coming year Russia need more and more capital investment for the new development of fields and current trend continuing there is a short fall ill come to the market. The reason behind the shortfall is the Gazprom

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