Germany oil and gas report Q1 2011

March 03, 2011 | Government & Regulations

Germany_flagGermany Oil and Gas Report provides industry professionals and strategists, corporate analysts, oil and gas associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Germany’s oil and gas industry.

The latest Germany Oil & Gas Report from BMI forecasts that the country will account for 17.73% of developed European regional oil demand by 2015, while making a contribution of just 1.06% to supply. In Developed Europe, overall oil consumption was an estimated 13.02mn barrels per day (b/d) in 2010. It is set to recover to around 13.24mn b/d by 2015. Developed Europe regional oil production was 6.96mn b/d in 2001, and in 2010 averaged an estimated 4.44mn b/d. It is set to fall to just 3.50mn b/d by 2015.

Oil imports are growing steadily because supply is contracting and demand is rising, albeit slowly. In 2010, net crude imports will have been an estimated 8.58mn b/d. By 2015, they are expected to have reached 9.73mn b/d. Norway will remain the only major net exporter, with Britain a net importer.

As regards natural gas, the Developed Europe region in 2010 consumed an estimated 419.5bn cubic metres (bcm), with demand of 470.7bcm targeted for 2015, representing 12.2% growth. Production of an estimated 259.3bcm in 2010 is set to fall to 253.0bcm in 2015, which implies net imports rising from the estimated 2010 level of 160.2bcm to some 217.7bcm by the end of the period. Germanys share of gas consumption in 2010 was an estimated 19.07%, while it will have accounted for around 4.63% of production. By 2015, its share of gas consumption is forecast to be 18.76%, with a 3.95% share of production.