Commodity Market Report

Europe gas and LNG imports and contracts long-term outlook H1 2019

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26 July 2019

Europe gas and LNG imports and contracts long-term outlook H1 2019

Report summary

High LNG availability and Russia’s willingness to maintain market share have pushed European spot prices to multi-year lows. This contrasts with the summer of 2018, characterised by little flexible supply availability. Over the next two years, Europe will continue to benefit from this oversupply of LNG. But as early as 2021, in order to secure sufficient supplies, competition with Asian buyers will intensify. At the same time, Europe’s reliance on imports continues to rise as demand remains resilient and indigenous production maintains its downward trajectory. With the supergiant Groningen field in the Netherlands likely to shut down in the mid-2020s, there is now additional market space in Europe for both incremental LNG and Russian pipeline imports. Meanwhile, the potential for other piped supplies to Europe has weakened. The prospects for export recovery from North Africa look increasingly unlikely, while additional exports beyond Shah Deniz 2 via the Southern Corridor are unlikely.

Table of contents

  • Recent developments
  • Future trends
  • Recent developments
  • Future trends
  • Recent developments
  • Future trends
  • Recent developments
  • Future trends

Tables and charts

This report includes 12 images and tables including:

  • Norway contracted and uncontracted flows
  • Norway flows by major pipelines
  • Norway pipe contracts by destination
  • North Africa contracted and uncontracted pipe flows
  • North Africa flows by major pipelines
  • North Africa pipe contracts by destination
  • Southern Corridor contracted and uncontracted pipe flows
  • Southern Corridor flows by major pipelines
  • Southern Corridor pipe contracts by destination
  • Contracted LNG volumes by buyer
  • Contracted & uncontracted LNG flows
  • LNG flows into Europe by importing regions

What's included

This report contains:

  • Document

    europe-gas-imports-and-contracts-long-term-outlook-h1-2019.xlsx

    XLSX 783.03 KB

  • Document

    Europe gas and LNG imports and contracts long-term outlook H1 2019

    ZIP 2.33 MB

  • Document

    Europe gas and LNG imports and contracts long-term outlook H1 2019

    ZIP 2.33 MB

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