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Markets & Forecasts

Europe’s weakening gas security

European gas production is forecast to fall while gas demand could be supported by changes in power generation in the mid-term. With flexibility of supply also weakening, there are risks to future winter supply security European gas production is forecast to fall while gas demand could be supported by changes in power generation in the mid-term. With flexibility of supply also weakening, there are risks to future winter supply security.
By Catriona Scott 20 December 2018 Europe & Russia / Supply & Demand 0 33758
Concerns about security and diversity of supply will continue to affect Europe’s willingness to increase the share of Russian gas in its supply mix. (Gazprom)

Output from leading European suppliers is forecast to decline during a period when demand could rise. Even if demand is flat, Europe’s supply/demand gap is still expected to widen in the mid-term. And it is not only the volume of indigenous production that is changing, the region’s seasonal supply flexibility is declining as well. As Europe becomes increasingly dependent on imports to meet its gas demand, and winter flexibility weakens, security of supply during the winter could be at risk.

Declining indigenous supply

Europe’s leading four suppliers...