Commodity Market Report
Europe gas infrastructure long-term outlook H1 2020
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Report summary
Russia's latest route into the European gas market started up in H1 2020, with gas flowing through the first string of TurkStream from January. Construction on Nord Stream 2 stopped in December 2019 when US sanctions targeted the project's pipelaying vessels, and we now expect it to be commissioned in January 2021. TANAP is ramping up according to schedule and we expect first flows to Italy through TAP in Q4. After years of low regas capacity utilisation, LNG imports into Europe increased as new US LNG export capacity began. But demand losses due to coronavirus has now impacted US supply, with lower use occurring. Europe send-out has fallen in parallel and we now expect European utilisation to hit 41% in 2020, a drop of 6% on 2019. Seasonal price spreads at European gas hubs continue to be higher in 2020 than previous years. This results in record storage inventories by October, opening up the opportunity for Ukrainian storage to be used to take supplies from the market.
Table of contents
- European pipeline developments
- Import pipeline developments
- Baltic / Central Europe interconnectors
- Southern Europe interconnectors
- Western Europe interconnectors
- Other pipeline infrastructure developments
- Transportation tariffs
- Historical capacity developments since 2010
-
Capacity outlook
- Future capacity development
- Existing infrastructure
- Recent terminal developments and infrastructure under construction
- Proposed terminals and expansions
- Growth in regasified LNG (RLNG) demand
- FSRUs
- Trans-shipments and reloads
- Other services
- Example of tariff calculation: Cartagena
Tables and charts
This report includes 26 images and tables including:
- Existing gas storage infrastructure
- Europe gas storage summary table 2020
- Regulation of gas storage in different markets
- Storage capacity vs days' cover
- Storage closures
- Days' storage cover by country - 2020
- Aggregate European storage capacity outlook H1 2020
- Cumulative storage capacity change
- Projects under construction or planned
- Active conventional scale regasification terminals
- Regas capacity by country
- Historic Utilisation
- Forecast utilisation
- Pre-FID terminals in Europe
- Regas capacity by status
- Contracted vols v regas capacity
- Conventional and small-scale+ LNG terminals
- Terminal tariffs
What's included
This report contains:
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