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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