Insight
Europe gas supply: 2017 in review
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Report summary
Market fundamentals in Europe tightened in 2017 for the second year in a row. Gas demand increased by 23 bcm year-on-year, supported by low hydro in southern Europe, low nuclear in France and below-average temperatures. At the same time, indigenous production decreased while pipeline imports from North Africa, Azerbaijan and Iran remained relatively flat. With increase in LNG imports concentrated in Southern Europe, Russia was therefore able to score a second straight year of record-high exports, close to 190 bcm, up 12% up from 2016 and representing 37% of European demand.
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