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0 Apr 12 2012 @ 10:55am by Matt Smith in Crude Oil, Economy, Global Energy, Natural Gas

Around The World In 80 Seconds

Given that this week feels like it has been all over the place, it seems somewhat appropriate that this post should do the same. So let us go around the world in 80 seconds, taking a look at some random energy nuggets from various corners of the globe.

SAUDI ARABIA – given that electricity demand in the kingdom is rising 10% each year, Saudi Arabia now consumes more than a quarter of its oil production to keep up with demand. It now consumes more oil than Germany – which has triple the population and an economy five times the size.

AUSTRALIA – could well become the world’s largest LNG exporter by 2018, surpassing Qatar, with 70% of global LNG capacity currently under construction in the country. It is currently also the world’s largest coal exporter.

PAKISTAN – is the country with the most natural gas vehicles, with over 2.8 million.

SCOTLAND – is aiming to get 100% of its electricity generation from renewable sources by 2020, with a strong focus on wind farms (making up 25% of Europe’s offshore total … but annoying Donald Trump … and sometimes exploding …).

NIGERIA – is the largest oil producer in Africa, sending over 40% of its oil exports to the US, and has the largest natural gas reserves in Africa. By 2050, Nigeria is also expected to be the 4th most populous country in the world.

BRAZIL – has the third largest electricity sector in the Western Hemisphere, behind the US and Canada. 85% of its electricity generation comes from….hydropower.

JAPAN – since the Tohoku earthquake of last year, Japan has all but 1 of its 54 nuclear reactors offline, with the last one being shut down in May for safety checks. Two have tentatively been approved to come back online, but this is likely several years away. In the meantime, LNG is being relied upon to meet the shortfall in power generation.

FRANCE – meets over 75% of its electricity needs from nuclear energy. It is also the first country in Europe to impose a countrywide ban of hydraulic fracturing.

INDONESIA – is the country that has just experienced the eighth biggest earthquake on record. It accounts for over 10% of the world’s LNG exports, with over half of those going to Japan.

IRAN – prior to sanctions, it was exporting 2.5 million barrels a day, the majority of which went to Asia (22% China, 14% Japan, 13% India, 10% South Korea).

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