New decline in refined product output in Venezuela in 2017.
As in 2016, the 2017 growth was driven by Asia – China and India accounted for more than 60% of the increase in refined oil products production – and by the Middle-East, especially Saudi Arabia and Iran. Production also rose in South Korea (dynamic demand) but contracted in Japan (declining oil product consumption).
In the United States, the largest producer of petroleum product worldwide, oil product production rose for the fifth year in a row and reached a record in 2017. It also grew in Canada, but fell in Mexico and Venezuela, where crude oil production contracted.
Production remained stable in Russia.
Petroleum product production rebounded in the European Union, in line with rising consumption, despite recent refinery closures over the past years in Europe combined with the willingness of Middle East countries to refine crude oil locally and low refining costs in North America.
Based on its 2017 data for G20 countries, Enerdata analyses the trends in the world energy markets.Download the publication
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According to US-based project company Cheniere Energy, the first commissioning cargo of LNG has loaded and departed from its US$15bn Corpus Christi liquefaction and export terminal project in Texas (United States). This marks the first export of LNG from the state and as well from a greenfield export project in the Lower 48 states.
According to the Russian independent gas producer Novatek, its joint venture (JV) Yamal LNG has reached full capacity at the plant’s three LNG liquefaction trains. The three 5.5 Mt/year liquefaction trains of the Yamal LNG project are now operational with a total combined nameplate capacity of 16.5 Mt/year.
The European Commission has adopted a decision imposing transmission system operator (TSO) TenneT to increase the electricity trading capacity between Western Denmark and Germany and to ensure a specific guaranteed capacity available at all times. This announcement ends the formal investigation opened in March 2018 to check whether TenneT infringed EU antitrust rules by systematically limiting southward capacity at the power interconnection between the two countries.
Polish coking coal producer JSW (Jastrzębska Spółka Węglowa) has unveiled plans to increase its output by 2.5 Mt/year to 3 Mt/year through acquisitions. Its 2030 production target has been set at 18 Mt/year, much above the current 14.8 Mt/year (including all types of coal). However, the share of thermal coal in its production will dwindle from the current 25% to 10%. The group will focus on coking coal, betting on the rising needs of the European steel industry.