Surge in US LNG exports
US LNG exports increased by a quarter in 2020, as new LNG plants were commissioned
New LNG production coming on stream contributed to a surge in LNG exports in the USA (+24%), Australia (9.7%) and to a lesser extend in Russia (4.1%). Asian LNG imports grew by 4.4% in 2020, as the rise in LNG imports in China and India (+12% and +8.6%) compensated lower imports in Japan and South Korea (-3.7% and -1.9% respectively), due to nuclear and renewable competition in the power sector. The EU posted a 7.6% decline in its LNG imports, with -16% in France and -6% in Spain, as the surge in renewable generation reduced gas-fired power generation.
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Iran exported 17 bcm of natural gas in the past year (March 2021-March 2022), according to the National Iranian Gas Company (NIGC), including 7.3 bcm to Iraq (43%) and 3.3 bcm to Turkey (19%). Around 98% of cities and 85% of villages in the country are connected to the natural gas transmission network. In 2020, Iran exported 11.3 bcm of natural gas and Iraq sourced 100% of its natural gas imports from Iran, totalling 5.7 bcm in 2020.
Greenhouse gas (GHG) emissions under the EU Emissions Trading System (EU ETS) rose by 7.3% in 2021, due to higher emissions from the power sector, industry and aviation; however, they remain below their 2019 levels.
India's crude oil production declined by 2.7% in the fiscal year 2021-2022 (April 2021 to March 2022) to 29.7 Mt, in line with the recent decrease in oil production due to ageing fields. Oil and Natural Gas Corporation (ONGC) produced 19.45 Mt of crude oil (-3.6%). With the economic recovery, refineries processed 242 Mt of crude oil in the fiscal year 2021-2022 (+9%), producing 254 Mt of petroleum products (+8.9%). In addition, natural gas output rose by 18.7% to 34 bcm in the fiscal year 2021-2022.
US greenhouse gas (GHG) emissions (including LULUCF) declined by 11% in 2020 to 5,222 MtCO2eq, i.e., 21% below 2005 levels, according to the United States Environmental Protection Agency. This was driven by an 11% decrease in CO2 emissions from fossil fuel combustion, primarily due to a 13% drop in transportation emissions driven by lower demand owing to the COVID-19 pandemic. In addition, power sector emissions also fell by 10%, reflecting both a slight decline in demand from the COVID-19 pandemic and a continued shift from coal to natural gas and renewables. In 2020, CO2 accounted for 79% of total emissions, followed by methane (11%), nitrous oxide (7%) and fluorinated gases (3%). Transport is the largest emitter sector (27%), followed by electricity (25%), industry (24%), commercial and residential (13%) and agriculture (11%).