Company: DLNG
Filing Date: 2025-04-10
Form Type: 20-F
Source: 0001104659-25-033744
Chunk: 193

Company: Dynagas LNG Partners LP
Filing Date: 2025-04-10
Form: 20-F
Item: Item 4
Chunk 193
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 competitive source of energy in the future. Apart from being abundant in supply, natural gas is the lowest carbon-intensive fossil fuel and least affected by the various regulatory policies aimed to curb greenhouse gas emissions. In recent years, consumption of natural gas has risen steadily due to global economic growth, increasing energy demand, consumers’ desires to diversify energy sources, market deregulation, competitive pricing, and recognition that natural gas is a cleaner energy source compared to coal and oil. The level of carbon dioxide emissions and pollutants from natural gas in power generation are 50 to 60 percent lower than the level of carbon dioxide emissions and pollutants from coal-fired power plants. Natural gas emits 15 to 20 percent less heat-trapping gases than gasoline/gas oil when burned in typical automobile engines.
Natural gas is primarily used for power generation and heating. According to Energy Institute Statistical Review of World Energy 2024, worldwide natural gas reserves are estimated at 188.1 trillion cubic meters (cbm) at the end of 2020, which is enough for nearly 46 years of supply at current rates of consumption. During 2014-2024, natural gas consumption rose 2.0% per annum, with growth of 3.6% per annum in Africa, 3.1% in the Asia-Pacific, 2.7% per annum in the Middle East, followed by 2.4% per annum in North America. After declining 2.1% in 2020, global natural gas consumption surged 5.0% in 2021 mainly driven by sharp recovery in global economy. Global natural gas consumption declined in 2022 due to high LNG prices. In 2023, natural gas consumption received support from easing of COVID-19 restrictions in China though partly offset by rise of renewables and nuclear power both in Europe and Asia. Global natural gas consumption increased 2.8% year over year in 2024 mainly driven by higher power consumption. 
In the last decade, a large part of the growth in natural gas consumption has been accounted for by Asia-Pacific, the Middle East and Africa regions, where gas consumption has increased nearly 1.3 times between 2014 and 2024.
World Natural Gas Consumption: 1970-20241
<{self.tag} alt="{self.alt}" src="{self.src}">(Million Tons Oil Equivalent)
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(1) Provisional estimate
Source: BP Statistical Review, Energy Institute Statistical Review, Drewry
The International Energy Agency