 So welcome everybody. As Yoni mentioned I'm Noah Henderson and I'm one of the annual natural gas managers here at the Energy Data Center and today we'll be taking a look at everything natural gas. So as Yoni mentioned here are all the different topics that we'll be covering in today's presentation starting with the key natural gas trends. In the last 40 years natural gas production has almost tripled and over that period natural gas was the second largest contributor to energy growth only behind coal. The production of natural gas expanded earliest and most quickly in the USA and Russia post World War II and these are the two countries that still have the largest production and combine they make up just over 40% of global production. For the demand side natural gas comprises just under 25% of total energy supply and it has many technical characteristics that make it a flexible fuel and it has found uses in many different sectors. One of the main sectors it has found use is the heat and power production. Trade is also a critical aspect when it comes to natural gas given the changing regional supply and demand dynamics an increased focus has been placed on moving gas internationally to match excess supply with the demand. This does require substantial infrastructure whether that be pipelines to move gas across land or LND liquefied natural gas infrastructure to move it across water. LNG has slowly been increasing its share of total natural gas rate and it is now at 43.8% of natural gas imports. A couple of the main importers are gas are Japan for LNG and Germany for gas through pipelines. It is also important to note that both liquefied natural gas and natural gas in a gaseous state are the exact same commodity and it should not be confused with the various oil or coal products that have different products differentiated. However, LNG trade is reported separately due to the specialized kind of infrastructure required for it to be traded. On to the emissions natural gas benefits from being the fossil fuel that has the lowest emissions per energy unit burned when compared with coal or oil and due to this many people see natural gas as a key bridging fuel as we transition to a cleaner energy system. Here are a couple interesting graphs to look at. As was mentioned gas comprises roughly a quarter of total energy supply but this can change greatly on a country by country basis. On the graph on the left you can see that the large growing economies of China and India have a very small percentage of natural gas used in their energy supply only around 6 or 7 percent whereas the large producing countries of USA and Russia have much larger percents of natural gas with the US having 32 percent of their energy from natural gas and Russia at 54 percent. On the right you can see a couple interesting graphs that show the growing gas use in the various final consumption by sectors and also the different regions that produce natural gas and continue to grow. On to some key concepts for natural gas. Natural gas can be defined as a combustible mixture of hydrocarbon gases that contains a very high concentration of methane usually over 90 percent but this is not a strict threshold and there's a bit of variability. Now to some extent natural gas is very similar to oil as it is the same organic source material and it has comparable geological conditions in which it forms but it tends to be formed in higher pressure and temperature ranges. It should be also noted that other combustible fuels such as coal and oil are classified according to their compositions and gross calorific values but natural gas is created just as one single product and the various natural gas mixtures can have gross calorific values that typically span between 37 to 42 megajoules per cubic meter. Finally since quantities of gas are usually measured in volumes we need to define the pressure and the temperature conditions to measure it and for international data collection at the IEA we use the standard conditions which corresponds to 15 degrees celsius and one atmosphere. Here is an overview of the natural gas balance starting with the supply side on the top with production inputs from other sources trade and stocks and we derive the inland consumption calculated from the supply and then we have the statistical difference which is the difference between the inland consumption calculated from the supply and the inland consumption observed which is derived from the demand side and all the end-use sectors. In general, efforts should be made to decrease statistical difference to ensure that there is strong correlation between the data on the supply side and the demand side. Taking a closer look at production now gas can be extracted in a few different places either from oil fields from gas fields or coal mines. The raw gas that comes out of OL usually includes a number of hydrocarbons and other contaminants along with methane and these contaminants need to be removed through a series of chemical and thermal processes to make the natural gas suitable for distribution and use. Some of this gas is flared or vented when it can't be processed or transported to a gas treatment plant and some of the gas can also be re-injected back into the fields to enhance the production of gas. At this step, the concentration of methane in this raw gas is not very high and it is often referred to as wet gas because it is liquid rich gas that has a high concentration of NGLs, natural gas liquids, condensate, and as a rule though has a relatively high energy content per volume. The extracted gas or wet gas is transported to a gas treatment plant where it is purified to increase its methane content. It can be from an initial concentration as low as 70% to a more concentrated value after purification sometimes as high as 99%. Purification consists of separating methane from other hydrocarbons such as NGLs and crude oil and the removal of the impurities of condensates, water vapor, CO2, and sulfur. The result of this purification process is dry marketable production gas and this is the definition we use at the IA for all of the natural gas we track in our energy balances. Dry marketable production can be further separated into associated gas for gas coming from oil fields, non-associated gas for gas coming from gas fields, and colliery gas for gas coming from coal mines. Now looking at the overall supply chain of natural gas, our data collection methodology covers all of these different stages of the supply chain starting with the production here as we just looked at. Additionally, there is also gas that can be blended into the natural gas grid from other fuels such as oil, coal, or renewables such as biogases from renewables being inserted into the natural gas grid. We also collect data on the infrastructure that connects production with consumption and then finally here are the many different NGU sectors in which natural gas is consumed and used. Trade is of course an absolutely critical part of the supply chain to connect the producers with all of the consumers and we can see on the slide all of the arrows that connect all of these different elements of the supply chain for natural gas. We're going to take a closer look at a few of these elements a little bit more in depth. So starting with trade either gaseous gas through pipelines or LNG over long ocean routes. Pipelines are a cost-effective way to move natural gas across land or even underwater for short distances. There are many interstate and local pipelines that exist, but the larger major pipelines that cross international borders tend to be larger and less common. On the figure on the left you can see the smaller blue lines for small pipelines and the larger brown lines for major pipelines. In the past few years due to the Russian invasion of Ukraine there has been a changing dynamic in which countries have realized the dangers from an energy security perspective of relying too heavily on one single trade partner and this has contributed to the continued growth of LNG trade. While pipelines are useful where land routes are available, natural gas that needs to be moved across large bodies of water creates a much more technical and economical challenge. The solution is to cool natural gas down to the temperature at which it becomes a liquid negative 162 degrees Celsius. This liquefied gas increases the amount of energy that can be stored in a given volume by 600 times. As a result LNG can be cost effectively transported in special ships over long ocean routes, but this process to safely cool, load, ship, offload and reheat the gas requires a lot of financial capital and the main components of this process are liquefaction plants, LNG carriers and then regasification terminals. The figure on the right displays the key trend of growing LNG trade. There are many more blue arrows which indicate higher year-over-year trade compared to the red arrows that indicate lower year-over-year trade between 2022 and 2021. Here is another graph that very clearly demonstrates the growing relevance of LNG trade on a global scale. Stocks are also critical when it comes to natural gas. Gas storage is used to shift a constant level of available production to match the seasonal demand fluctuations. You can see these fluctuations on the slide for OECD Europe. In the countries in the northern hemisphere, typically have a clear demand peak in the winter months when natural gas is used more heavily for heating and a demand trough in the summer months when it is not needed for heating. The majority of gas storage happens in depleted gas reservoirs but there are other geological formations such as aquifers or salt caverns that can also be used. Overall stocks provide the seasonal flexibility resulting from a relatively flat supply and a combination of price signals from the market and regulations drive the operation of storage facilities which build stocks during the warmer months of lower demand and supply the grid in the colder months. On to the demand where we can see many of the different sectors that gas is being used in. Some of the definitions for these sectors might be not clear so let's take a closer look at a few of them starting with the transformation sector. This includes all demand that converts gas into another energy form. This could be electricity, gasworks gas or many others. The energy sector includes the consumption to support the operations. For example natural gas that is burned to support oil and gas extraction or in a refinery. The main difference between transformation and energy sector is that in the energy sector the gas is burned but is not transformed into a different commodity and then the last one will take a closer look at is non-energy use which refers to natural gas not used for its energy content but used as a feedstock to produce a non-energy hydrocarbon based raw material. For instance this could be fertilizers or plastics. Here's a look at some of the various transformations that natural gas is used in to transform into many different energy products such as electricity or heat. Many various coal byproducts or even some oil products as well. On to the final part of the presentation with the data reporting in the natural gas annual questionnaire. We ask national administrations to fill a questionnaire on a yearly basis and the questionnaire is designed to capture information relevant to all of the steps of the natural gas process that we have already looked at in this presentation. The questionnaire is divided into six different tables and you can see on the slide covering supply consumption trade and infrastructure. After the data is submitted and we collect it it has to go through various validation and analysis to analyses to make sure it is comparable and accurate across time and across countries. This involves making sure that the proper standards were used when filling the questionnaire and that there is consistency between the different tables in the natural gas questionnaire as well as between the other fuel questionnaires. You can see some of those connections on the slide currently. Now looking at the individual tables of the questionnaire table one looks at supply of natural gas. We ask for the data in million cubic meters, terajoules and average gross calorific values. Gross calorific values lets us convert between terajoules and million cubic meters. As a reminder when filling in this table we only count the dry marketable production of gas so once it after it has been cleaned of any impurities. For trade we must note that we only count gas that crosses the physical boundary of the reporting country and we do not include any transit or re-exports for the reported trade. So if gas comes into your country travels through it and to another country we don't include that only gas that is consumed in your country should be considered as imports. Here is the first part of the consumption tables table 2a where we ask for data in terajoules and the table is split between consumption in the transformation sector, the energy sector and we also collect data on transmission and distribution losses. This is the other half of the consumption sectors where we ask for data in terajoules once again and we differentiate between energy use and non-energy use. So once again when gas is used as a fuel energy and when it is used as a raw material non-energy use. We only ask for data in terajoules because we can convert it to million cubic meters by using the gross calorific values reported in table 1 in the supply tables. There is something that can be a little bit difficult to understand in the consumption tables when we are looking at the transformation sector. Typically there are three different plant types that we have. There are electricity plants, heat plants or combined heat and power plants and these are further divided into main activity producers and auto producers. Main activity producers are entities whose sole or main purpose is to produce and sell electricity or heat and auto producers are entities that produce electricity or heat as a byproduct of another primary product or activity. So within table 2a in the transformation we want to avoid counting the heat which is consumed by the auto producer or its primary activity as this is consumption so it should be reported in table 2b. In the transformation sector we should only be reporting the consumption for electricity or heat that is then sold onwards by the auto producer. This can be a little bit confusing so I welcome any questions or take another look at this slide after the presentation. Onto tables 3 and 4 where we have trade and we collect data on total trade and LNG trade and then we can easily calculate pipeline trade from those two values. We asked for details on the country of origin for imports and the country of destination for exports and we should note that we would like the ultimate origin or the ultimate destination reported so the ultimate origin is where the gas was produced and the ultimate destination was where the gas is consumed and we asked for data in million cubic meters and teradjoules once again and here are some quality checks that we go through and some of the issues that are often seen within questionnaires and which countries often have difficulty reporting in the gas questionnaire and then here are the various resources that are very useful if you'd like to look more into them. Great, thank you very much.