Commodity Market Report

Europe gas and LNG imports and contracts long-term outlook H2 2020

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08 March 2021

Europe gas and LNG imports and contracts long-term outlook H2 2020

Report summary

Europe’s access to diverse and secure sources of supply has supported demand growth, setting up the region as a major gas consumer. But policy changes and increased decarbonisation efforts will reduce gas demand over the long term. As indigenous production progressively falls, Europe will continue to rely heavily on imports. We forecast total piped and LNG imports could be sustained above 400 bcm per annual until the mid-2040s.

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