An Outlook on the European Gas Market (original) (raw)

A Second Life for Natural Gas Demand in Europe?

The European Union’s natural gas balance is projected to deteriorate rapidly over the next couple of decades due to strongly decreasing domestic production. According to the IEA’s World Energy Outlook 2011, the EU’s production is expected to fall from 216 bcm in 2008 to 89 bcm in 2035. Different energy models come to different conclusions concerning the evolution of demand, but none of them project demand falling fast enough to offset the fall in production before at least 2030. In this paper the goal is to focus more closely on selected strategy drivers and on specific market segments in order to shed light on what may drive EU gas demand in future. Brief sections follow, addressing power generation costs and the price of carbon; recent political decisions to move away from nuclear power; and natural gas in the transport sector.

How will energy transition impact the major EU natural gas suppliers

2020

This paper focuses on the adaptation strategies of two major EU natural gas suppliers – Gazprom and Equinor – to new challenges imposed by the clean energy transition. Oil and gas companies around the world have already started to adjust their business strategies, inter alia, by investing in renewable energy. The recently proposed European Green Deal adds additional decarbonisation pressure to the gas sector with the increasing supply of renewable and low-carbon gases and the reduction of energy-related methane emissions.