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NATGAS: Middle East Role in Regional and Global Gas Supply: IEA

NATGAS
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Additional gas price volatility in recent weeks has been fuelled by the Middle East which has a central role in both regional and global gas supply security, according to IEA analyst Greg Molnar.

  • The Strait of Hormuz accounts for over one-fifth of global LNG trade, at around 110-120 bcm, with over 80% shipped to Asian markets, including China, India and Japan.
  • The Hormuz share of global LNG trade is set to increase in the coming years due to Qatar's North Field expansion and UAE's Ruwais LNG export facility.
  • Israel’s role as a regional gas supplier increased significantly in recent years with a ramp-up of piped gas supplies to Jordan and Egypt from higher domestic production.
  • Israel accounts for around 15% of Egypt's gas supply and is set to increase further.
  • Iran is a key gas supplier to Iraq, accounting for almost half of gas demand, and an important supplier to Turkey, accounting for 10-15% of primary gas supply.

 

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Additional gas price volatility in recent weeks has been fuelled by the Middle East which has a central role in both regional and global gas supply security, according to IEA analyst Greg Molnar.

  • The Strait of Hormuz accounts for over one-fifth of global LNG trade, at around 110-120 bcm, with over 80% shipped to Asian markets, including China, India and Japan.
  • The Hormuz share of global LNG trade is set to increase in the coming years due to Qatar's North Field expansion and UAE's Ruwais LNG export facility.
  • Israel’s role as a regional gas supplier increased significantly in recent years with a ramp-up of piped gas supplies to Jordan and Egypt from higher domestic production.
  • Israel accounts for around 15% of Egypt's gas supply and is set to increase further.
  • Iran is a key gas supplier to Iraq, accounting for almost half of gas demand, and an important supplier to Turkey, accounting for 10-15% of primary gas supply.

 

Keep reading...Show less