Global gas demand is projected to reach 3,460.7 billion cubic meters (bcm) in 2013, constituting an increase of 3.6% from 3,341.4 bcm in 2012. North America's gas consumption is forecast to reach 890.3 bcm in 2013, equivalent to 25.7% of global demand. It would be followed by Asia & Australia with 720.8 bcm (20.8%), Eastern Europe & the Commonwealth of Independent States with 587.4 bcm (17%), Western Europe with 533 bcm (15.4%), the Middle East with 445.7 bcm (12.9%), Central & South America with 164.5 bcm (4.8%) and Africa with 119 bcm (3.4%). In parallel, U.S. natural gas Henry Hub prices are forecast to reach $3.3 per million British Thermal Units (Btu) on average in 2013, up by 19% from $2.7 per million Btu on average in 2012. European natural gas prices are projected to average $10.6 per million Btu in 2013, down by 6.8% from $11.4 per million Btu on average in 2012.
Also, Japanese liquefied natural gas prices are forecast to drop by 8.8% year-on-year to $15.5 per million Btu on average in 2013.
In parallel, the Dow Jones-UBS Natural Gas Sub-Index declined by 6.8% in November 2012, while the Dow Jones-
UBS Petroleum Sub-Index rose by 2.6% during the month.
Economic Intelligence Unit, Dow Jones Indices, Byblos Research