, BP has turned over publication of the annual Statistical Review of World Energy to the Energy Institute . The Statistical Review is instrumental in providing comprehensive data on global oil, gas, and coal production and consumption, as well as on carbon dioxide emissions and renewable energy statistics.. Today, I will cover the recently published 2023 report’s highlights.
Renewable energy continued to grow strongly, with solar and wind reaching a 7.5% share of primary energy consumption. This was an increase of nearly 1% over the previous year. Renewable power grew 14% in 2022, slightly below the previous year’s growth rate of 16%. Global natural gas demand declined by 3% in 2022 dropping just below the 4 trillion cubic meter mark achieved for the first time in 2021. Its share in primary energy in 2022 decreased slightly to 24% . The decline was attributable to record price levels in Europe and Asia in 2022, rising nearly threefold in Europe and doubling in the Asian LNG spot market. U.S. Henry Hub prices rose over 50% to average $6.5/MMBtu in 2022 – their highest annual level since 2008.
“Despite further strong growth in wind and solar in the power sector, overall global energy-related greenhouse gas emissions increased again,” said EI President Juliet Davenport. “We are still heading in the opposite direction to that required by the Paris Agreement.”The data shows the profound impact of Russia’s invasion of Ukraine on energy markets. Russia’s disruption of energy imports skyrocketed natural gas and coal prices to all-time highs in Europe and Asia.
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