Europe Gas & LNG Market Outlook 2024

Europe Gas & LNG Market Outlook 2024

Summary

Europe's natural gas supply peaked but is now in decline due to policy shifts favoring renewable energy and reduced reliance on fossil fuel imports. Despite this decline, high industrial gas usage and residential heating needs create favorable conditions for continued exploration and production. Although a rebound in industrial and heating use is anticipated, overall gas demand is projected to decrease, primarily driven by a reduction in gas-powered electricity generation. Renewable energy sources, such as wind and solar, are gradually replacing thermal power, with significant changes expected by 2028, followed by a plateau in the transition. The EU considers natural gas a transitional energy source, focusing on a gradual shift from coal to renewables, ensuring relatively stable gas momentum in the short to medium term.

Europe's gas pipeline network, spanning over 160,000 km, is set to expand by an additional 10,662 km by 2030, with major projects enhancing capacity and reliability. European countries are also significantly increasing their regasification capacity by 2025, particularly in response to the Ukraine invasion in 2022. Geopolitical events, such as the Nord Stream pipeline sabotage and Gazprom's decisions impacting the Yamal-Europe pipeline, have accelerated the phase-out of russian gas more than the EU's initiatives. Over the past year, European hub prices remained below Asian spot LNG prices due to high inventory levels and increased piped gas deliveries.

Scope

  • Analysis of European natural gas production by country and basin.
  • Analysis of Europe’s natural gas demand by country and sector, as well as its use and outlook for power generation.
  • Review of Europe’s most important active and upcoming natural gas field projects.
  • Details of the most important active and upcoming European gas pipeline systems and underground storage projects.
  • Assessment of the European LNG liquefaction and regasification capacity. and upcoming regasification projects.
  • Analysis of the LNG trade activity in the continent.
  • Assessment of Europe's phase-out of Russian gas
  • Overview of the EU's Energy Transition Policies affecting the Natural Gas market
Reasons to Buy

How is the ‘Europe Gas and LNG Market’ report different from other reports in the market?

Businesses need to have a deeper understanding of the market dynamics to gain a competitive edge in the coming decade. The report’s in-depth analysis and market insights will enable you to:
  • Identify the main natural gas-producing countries and fields in the European continent.
  • Discover the main natural gas demander countries and energy sectors.
  • Access the current and upcoming status of European gas pipelines and underground storage.
  • Explore the reasons behind the low European LNG liquefaction capacity.
  • Learn about the current and upcoming LNG regasification projects, as well as the main exporters to the continent.
We recommend this valuable source of information to anyone involved in:
  • Business Development and Market Intelligence
  • Investment Analysts and Portfolio Managers
  • Professional Services - Investment Banks, PE/VC firms
  • M&A/Investment, Management Consultants, and Consulting Firms​
  • Oil & Gas and LNG Producers/Service Providers
  • Contractors/Engineers and Equipment/Materials Suppliers
  • Upstream, Midstream & Downstream Producers/ Technology Suppliers


1. Executive Summary
2. Europe Natural Gas Outlook
2.1 Supply and Demand
2.2 Taxes and Royalties
2.3 Demand Composition
2.4 European Gas Demand and Power Generation
3. Natural Gas Supply Dynamics in Europe
3.1 Europe Overview - Natural Gas Production Breakdown
3.2 Natural Gas in Europe: Upstream economics
3.3 Active Natural Gas projects in Europe
3.4 Upcoming Natural Gas projects in Europe
4. Natural Gas Midstream in Europe
4.1 Gas pipelines in Europe
4.2 New Gas pipelines investments in Europe
4.3 European underground gas storage
5. LNG Plants and Trade Activity in Europe
5.1 LNG liquefaction plants in Europe
5.2 LNG regasification plants in Europe
5.3 Upcoming LNG regasification projects
5.4 Europe LNG trade activity
6. Russian gas supply phase-out
6.1 Diversification strategies
6.2 The end of Russian gas reliance?
7. Natural Gas markets in the European Energy Transition
7.1 EU Energy Transition Policies on Natural Gas
About GlobalData
List of Tables
Table 1: Top 15 Upcoming Natural Gas projects in Europe by reserves
Table 2: Top individual pipelines by capacity
Table 3: Top 5 planned and announced gas pipelines in Europe
Table 4: Top 5 active gas storage projects
Table 5: Top 5 planned and announced gas storage projects
Table 6: Most important regasification plants in Europe
Table 7: Most important regasification expansion plans
List of Figures
Figure 1: Europe’s Natural Gas Supply by Country, 2018-2028
Figure 2: Europe’s Natural Gas Demand by Country
Figure 3: Europe’s Natural Gas Taxes and Royalties in top 9 producing countries, 2020-2026
Figure 4: Europe’s Natural Gas Demand by Type and Sector (Projected, 2024)
Figure 5: Europe Natural Gas Demand by Sector
Figure 6: World and Europe Natural Gas 2024 projected Demand change
Figure 7: Europe Power Generation Installed Capacity.
Figure 8: Europe Natural Gas Production by Resource Type
Figure 9: Europe Natural Gas Production by Top 8 Company ownership
Figure 10: Histogram of producing Natural gas fields by expenditure per mcf
Figure 11: European Natural gas prices
Figure 12: Natural gas production by basin
Figure 13: Total reserves from upcoming projects by main basins
Figure 14: Pipeline Length by country
Figure 15: Historical, planned and announced CAPEX by major pipelines
Figure 16: LNG liquefaction capacity by plant (mtpa) and country
Figure 17: 2030 LNG liquefaction capacity share by country
Figure 18: LNG imports from Norway by country
Figure 19: European LNG regasification facilities by terrain
Figure 20: European LNG regasification capacity outlook by country
Figure 21: LNG imports by country
Figure 22: Share (%) of main LNG exporting countries to Europe
Figure 23: Regasification capacity increase by country (mtpa)
Figure 24: European Gas imports by source
Figure 25: Russian gas export routes into Europe
Figure 26:Upcoming and decommissioning thermal capacity, 2024-2035
Figure 27: CCUS capacity and plants by country

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook
Cookie Settings