Commodity Market Report

Europe indigenous gas supply long-term outlook H2 2019

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23 January 2020

Europe indigenous gas supply long-term outlook H2 2019

Report summary

European indigenous gas production declines through our forecast but there are bright spots across the region and companies continue to invest heavily in exploration and production. The UK and Romania offer contrasting views of the potential for significant discoveries across mature and frontier basins. Supportive fiscal terms will be vital to unlocking new fields as well as encouraging further development. But over the long-term, investment will compete with proven low-cost reserves in other regions, and political and regulatory hurdles will need to be addressed to encourage sustained investment in Europe.

Table of contents

  • Expected closure ahead for Groningen
  • The UK remains the largest producer through most of our forecast
  • High hopes for Romania's Black Sea with new government in place
  • Norway remains a key producer but faces challenges amidst the current oversupply
  • Are there potential new opportunities elsewhere?
  • Could Europe provide an alternative market for EastMed supply?
  • EastMed pipeline participants retain ambitions for 2022 FID following non-binding supply deal
  • Greenfield liquefaction facility in Cyprus cannot be ruled out
  • Unconventional supply
  • Future challenges and opportunities

Tables and charts

This report includes 6 images and tables including:

  • Groningen production – WM H2 2019 Base Case
  • UK Continental Shelf and gas fields
  • UK gas production profile (2015-2040)
  • Romania production by category (2015-2040)
  • Cyprus exports to Egypt – WM 2019 Base Case Outlook
  • Europe supply by status

What's included

This report contains:

  • Document

    Europe indigenous gas supply long-term outlook H2 2019.xlsx

    XLSX 1.54 MB

  • Document

    Europe indigenous gas supply long-term outlook H2 2019

    PDF 1.94 MB

  • Document

    Europe indigenous gas supply long-term outlook H2 2019

    ZIP 2.81 MB

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