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Natural Gas
 
Introduction
  • Natural gas is a vital component of the world's supply of energy. It is one of the cleanest, safest, and most useful of all energy sources.
  • Natural gas is a combustible mixture of hydrocarbon gases. While natural gas is formed primarily of methane, it can also include ethane, propane, butane and pentane.
  • Natural gas is likely to play a greater role in the world energy mix given its growing resource base and its relatively low carbon emissions compared to other fossil fuels.
  • Natural gas, when compressed at a pressure of 250 bars, is termed as compressed natural gas (CNG).
 
Global Scenario
  • The world’s natural gas reserves are estimated to be 7,360.9 trillion cubic feet (tcf). The Middle East holds 38.4% of the world’s reserves, while an additional 21.4% is located in the former Soviet Union, with only 9% held in the OECD countries.
  • In 2011, the global natural gas production was 3,276.2 billion cubic metre (bcm), up 3.1% from 3,178.2 bcm in 2010, and consumption was 3,222.9 bcm, compared with 3,153.1 bcm in the previous year.
  • The US, Russia and Canada are the largest natural gas producing countries, while the US, Russia and Iran are the largest natural gas consuming countries in the world.
 
Indian Scenario
  • The balance recoverable natural gas reserves in the country is 1240.9 bcm, which accounts for only 0.6% of the world’s total natural gas reserves.
  • The share of natural gas in the country's primary energy mix decreased to 9.8% in 2011 from11% in 2010.
  • However, this share is quite low compared to the global average (24%), primarily due to the supply-side constraints.
  • The natural gas (including CBM) production in 2011 was 46.1 bcm, which is 12.8% higher than the actual production of 50.8 bcm in 2010.
  • India's consumption of natural gas was around 61.1 bcm in 2011, which accounts for only 1.9% of the world natural gas market.
  • As India does not have any pipeline connection, all the gas currently imported is LNG. India's current operational LNG import capacity is 18 bcm.
 
Price Moving Factors
  • Natural Gas inventory data
  • The US weather conditions and active hurricane season poses a threat to the US Gulf coast’s
  • natural gas production
  • Price of crude oil
  • Industrial and Residential demand in the US
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Web sources on
 www.eia.doe.gov
 www.petroleum.nic.in
 www.bp.com
 www.pricegroup.com
 www.intelligencepress.com
 www.cmegroup.com
 
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