World Gas Reserves Increased by 1.7% in 2013, Says ENI Report

World gas reserves increased by 1.7% in 2013 on new gas discoveries in East Africa, but the global growth does not translate into an ease for Europe as difficulties are set to remain. These are the main results of the new edition of the World Oil and Gas Review presented by ENI on Monday.  

‘The European refining sector is committed to a deep rationalization process (about 2 million barrels per day of capacity was closed in the last years). Despite the shut-down of several plants, European refining overcapacity endures, amplified even more by a general decrease of demand,’ ENI analysts wrote in the press release. 

On the other hand, the US increased by 2% its consumption of gas on enlarged availability with respect to 2012 levels.  

‘The United States, in recent years, has become leader in the oil and gas production growth, at the same time consolidating its position as leading world consumer.’