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Follow on Google News | New Market Research Report: Belgium Oil & Gas Report Q1 2011Recently published research from Business Monitor International, "Belgium Oil & Gas Report Q1 2011", is now available at Fast Market Research
As regards natural gas, the Developed Europe region in 2010 will have consumed an estimated 419.5 billion 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. Belgium's share of gas consumption in 2010 will have been an estimated 4.17%, while it makes no contribution to production. By 2015, its share of gas consumption is forecast to be 3.90%. For 2010 as a whole, we assume an average OPEC basket price of US$77.00 per barrel (bbl), +26.5% year-on-year (y-o-y). The 2010 US WTI price is now put at US$79.16/bbl. BMI is assuming an OPEC basket price of US$80.00/bbl in 2011, with WTI averaging US$82.25/bbl, Brent at US$82.46/bbl, Urals delivering around US$81.21/bbl and the Dubai average being US$80.74/bbl. Our central assumption for 2012 is an OPEC price averaging US$85.00/bbl, delivering WTI at approximately US$87.40/bbl and Brent at US$87.60/bbl. From 2013 onwards, we are using an average OPEC price of US$90.00/bbl. For the whole of 2010, the BMI assumption for the global gasoline price is an average US$87.49/bbl, representing a year-on-year rise of 24.7%. The global gasoil forecast is for an average price of US$88.00/bbl, probably peaking in December 2010 at more than US$95/bbl. The full-year outturn represents a 27.6% increase from the 2009 level. For 2010, the annual jet price level is forecast to be US$89.50/bbl. This compares with US$70.66/bbl in 2009. The 2010 average naphtha price is put by BMI at US$77.65/bbl, up almost 31% from the previous year's level. Belgian real GDP is assumed by BMI to have risen by 1.8% in 2010. We are forecasting average annual growth of 1.9% in 2010-2015. Oil demand is expected to have recovered only slightly in 2010, before rising slowly to reach 805,000b/d by 2015. From an estimated 17.5bcm in 2010, we expect to see gas demand rise to a minimum of 18.4bcm by 2015, all met by increased pipeline and liquefied natural gas (LNG) imports. Between 2010 and 2020, we are forecasting an increase in Belgian oil and gas liquids consumption of 1.90%, with volumes rising slowly from an estimated 785,000b/d in 2010 to a peak of 805,000b/d by 2015/16. Gas demand should rise from the estimated 2010 level of 17.5bcm to 19.3bcm by 2020, all based on LNG and pipeline imports. Details of BMI's 10-year forecasts can be found in the appendix to this report. According to BMI's country risk team, Belgium's long-term political risk score is 80.3, compared with the Developed Markets average of 86.8 and the global average of 63.0. Our long-term economic rating for the country is 65.9, just below the Developed Markets average of 66.6 and above the global average of 52.8. Belgium has a privatised energy sector operating under EU guidelines. There is no upstream oil and gas segment but downstream oil and gas features a mixture of international oil companies (IOCs) and former state companies now in foreign hands. Both the gas and power markets are open to competition. For more information or to purchase this report, go to: - http://www.fastmr.com/ Partial Table of Contents: Executive Summary SWOT Analysis - Belgium Political SWOT - Belgium Economic SWOT Belgium Energy Market Overview Global Oil Market Review - Regaining Momentum - Quarterly Trends Global Oil Market Outlook - Sitting Comfortably - Oil Price Forecasts Oil Supply, Demand And Price Outlook - Short-Term Demand Outlook - Table: Global Oil Consumption (000b/d) - Short-Term Supply Outlook - Table: Global Oil Production (000b/d) - Longer-Term Supply And Demand - Oil Price Assumptions - Table: Crude Price Assumptions 2010 - Table: Oil Price Forecasts Regional Energy Market Overview - Oil Supply And Demand - Table: Developed Markets Oil Consumption (000b/d) - Table: Developed Markets Oil Production (000b/d) - Oil: Downstream - Table: Developed Markets Oil Refining Capacity (000b/d) - Gas Supply And Demand - Table: Developed Markets Gas Consumption (bcm) - Table: Developed Markets Gas Production (bcm) - Liquefied Natural Gas - Table: Developed Markets LNG Imports/(Exports) Industry Forecast Scenario - Oil And Gas Reserves - Oil Supply And Demand - Gas Supply And Demand - LNG - Refining And Oil Products Trade - Revenues/Import Costs - Table: Belgium Oil And Gas - Historical Data And Forecasts - Other Energy - Table: Belgium Other Energy - Historical Data And Forecasts - Key Risks To BMI's Forecast Scenario - Long-Term Oil And Gas Outlook Oil And Gas Infrastructure - Oil Refineries - Service Stations - Oil Storage Facilities - Oil Terminals/Ports - Oil Pipelines - LNG Terminals - Gas Storage Facilities - Gas Pipelines Macroeconomic Outlook - Belgium - Economic Activity Competitive Landscape - Executive Summary - Full Table of Contents is available at: -- http://www.fastmr.com/ About Business Monitor International Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at http://www.fastmr.com/ About Fast Market Research Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156. # # # Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available. End
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