Europe indigenous gas supply long-term outlook H1 2020 Report

Commodity Market Report 22 July 2020

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Report summary

European gas production continues declining through our forecast and the region’s decarbonisation efforts put further pressure on long-term prospects. But there are still bright spots across the region, offering upside in the medium term. Supportive fiscal terms, as well as further appraisal of discovered resources and increased focus on efficiency improvements, will be vital for unlocking Europe’s gas production potential.

Norway remains a key producer, but pre-FID projects feel the pain of oil price crash
UK fields provide near-term support, but the long-term decline is inevitable
Romania can boost indigenous gas production if the government can create a stable investment climate
Cyprus – the country’s significant resource potential needs to find a suitable commercialisation option
Netherlands – decline at Groningen continues
Other
- Unconventional supply
- Future challenges and opportunities