Europe gas infrastructure long-term outlook H2 2018 Report

Commodity Market Report 14 January 2019

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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below

What’s inside?

You’ll get a complete view of European gas pipeline infrastructure projects, including pipelines, storage and regasification. Our report analyses major infrastructure developments by region, identifying the key projects that will impact import and export volumes in the long term.

What questions does this report answer?

When can we expect new gas pipeline projects to come on stream and what impact will they have on the market?
Our forecasts for gas import and export volumes across Europe.
What are the main developments in storage and LNG infrastructure? Can the infrastructure accommodate the increased requirements from LNG after 2021?

Pipeline capacity

“Europe’s LNG requirements will more than double by 2025. Europe’s growing gas import dependency, coupled with constraints on Russian pipeline exports, mean that LNG imports will have to increase.”

Hadrien Collineau, EMEARC Commodity Analytics for Gas and LNG, quoted by oilprice.com

Report summary

The completion of TANAP in Turkey represents a significant milestone in the development of the European gas pipeline infrastructure. It will allow significant volumes of gas from Azerbaijan transiting to other European markets through TAP. Both string of the TurkStream pipeline across the Black Sea were completed in 2018. They will provide Russia with an alternative route into Turkey and Southeast Europe. Nord Stream 2 continues to make progress despite significant hurdles. However, the commercial arguments for the pipeline remain robust and pipe manufacturing is at an advanced stage. The two existing market places for French gas, PEG Nord and PEG TRS merged in November 2018. It created the unique Trading Region France, with the associated single virtual gas-trading point PEG. LNG imports are beginning to increase with the commissioning of new US LNG export capacity – over 100 bcma (~74 mmtpa) by 2022. European LNG imports will peak in the short term at 125 bcm (~92 mmtpa) in 2020

Import pipeline developments
Background
European pipeline developments
Baltic / Central Europe interconnectors
Transportation tariffs
Historical capacity developments since 2010
Capacity outlook
- Existing infrastructure
- Recent terminal developments and infrastructure under construction
- Proposed terminals and expansions
- FSRUs
- Transhipments and reloads
- Other services
- Example of tariff calculation: Barcelona LNG terminal