IAE: Russia to lose gas leadership to USA.

By bne IntelliNews May 30, 2012
According to the report by International Energy Agency (IEA) "Golden Rules of the golden age of gas", Russia could lose the leadership in natural gas extraction to USA due to growing volumes of shale gas extraction. By 2035, USA is seen producing 821bn m3 of gas, followed by Russia (784bn m3), and China. The share in gas output of Russian and Middle East countries is seen declining from 45% in 2010 to 35% in 2035. At the same time demand for gas is seen increasing, its share in consumption of energy sources expected to go up from 21% to 25% by 2035, surpassing the consumption of coal and lacking behind oil with 27%. IEA sees gas prices in Europe declining, especially for traditionally extracted gas that is tied to the prices of oil (such are the contracts of Russia's Gazprom with European consumers). To remind, Russia's domestic natural gas output went up by 3.1% y/y to 670.5bn m3 in 2011, the Industry and Energy Ministry reported. Out of total gas output in 2011 Gazprom's output inched up by 0.2% y/y to 509.7bn m3, second-largest gas producer's Novatek output had its output soar by 41% y/y to 53.3bn m3, while oil companies saw natural gas output increase by 9.5% to 63.7bn m3. In 2011 gas exports from Russia to non-CIS countries increased by 9% y/y to 116.8bn m3 and by 3.4% y/y to 65.7bn m3 to CIS counties. Domestic gas consumption last year increased by 2.6% y/y to 514.3bn. Natural gas output went up by .5% to 650.3bn m3 in 2010 and decreased by 12.5% y/y to 582.4bn m3 in 2009.
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