OECD energy production in 2014

Data from the International Energy Agency (IEA) shows that in 2014, energy production in the 34 members of OECD exceeded 4000 million toe for the first time since the Agency was founded in 1974. And renewables made up 22% of all electricity generation last year among OECD members, the highest level since 1975.

Significant production increases in the US, up 12% for oil and 5% for natural gas, and in Canada (9% for oil) and Australia (9% for coal) drove the OECD’s 3% gain from 2013. On the back of increased energy production, OECD exports hit a new high of 1695 million toe, while imports dropped 2.5%. That left net OECD imports at 1324 million toe, the lowest since 1995.

Primary energy supply

Total primary energy supply (TPES), is an indicator of energy use, and fell across OECD countries by 1.2%, led by declines for all fossil fuels, as gas consumption fell by 2.3%, coal by 1.9% and oil by 0.9%. A relatively warm winter in several countries was the main cause of the reduction in gas consumption.

With energy production increasing more than use, the level of total OECD energy self sufficiency rose to 78% in 2014, comparable to 1985 levels. OECD Americas was very close to self sufficient, at 99%, the highest level since the founding of the IEA.

Electricity generation from non-hydro renewables increased 9% in 2014 to hit 9% of total generation, a new high within the OECD, lifting total renewable electricity generation to 22%, or 2355 terawatt hours (TWh). Generation from fossil fuels fell 160 TWh.

OECD member countries accounted for 40% of global TPES in 2013 and the IEA report has said that it expects a continuing steady decline in its relative importance in energy use. In1971, the grouping accounted for 61% of the global energy supply.

Edited from press release by Claira Lloyd

Read the article online at: https://www.worldpipelines.com/special-reports/06072015/oecd-energy-production/