volume. To take into account the different energy content of such gases, all calculations were carried out in energy units, and then converted to bcf using the conversion factor for natural gas.
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Market shares were calculated as the total volume of gas sold to external end-users in all segments, divided by the total market volume. To avoid the risk of double-counting, gas volumes that were distributed to endusers on behalf of another retailer under third-party network access agreements are not included. Wholesale, trading, and storage volumes are excluded( except for Russia where both wholesale and retail volumes are included). For companies which operate in both gas and power sectors, any self-supply to their own gas-fired generation plant is excluded.
All currency conversions are at constant average annual 2015 exchange rates.
The global gas utilities industry is expected to generate total revenues of $ 782,816.4m in 2016, representing a compound annual growth rate( CAGR) of 3.3 % between 2012 and 2016.
Industry consumption volume is forecast to increase with a CAGR of 1.5 % between 2012 and 2016, to reach a total of 103,852.6 billion cubic feet in 2016.
Demand for natural gas is impacted by many factors. In the residential sector, demand is largely driven by weather conditions. Particularly mild winters can lead to a drop in demand, and vice-versa.
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