Europe & Russia: Production
Total European gas production is set to decline in H2, as some of the region’s major suppliers will see their output fall.
The UK’s gas output was flat on an annual basis June. Year-on-year declines could be seen over the coming months which will help to reduce European production volumes on an annual basis at the start of winter. The UK had supply from new fields boost total output earlier this year. Although further increases from new supplies could be seen, the UK’s ageing fields will pull down overall production over the next 24 months.