The LNG imports volume of United Kingdom attained a value of 2,542,001 tonnes in 2020
The indicator recorded a historical decline (CAGR) of 20% between 2017 and 2020
The LNG imports volume in the UK dropped significantly in 2020
The UK gas utilities industry declined overall during the historic period; growth was disrupted by a sharp low-double-digit drop in value during 2020. Growth is expected to return over the forecast, albeit at a modest pace.
The UK has a well-developed gas supply infrastructure. There is a single transmission system operator (TSO), National Grid Gas, and four major distribution system operators (DSOs), plus a few smaller DSOs. The TSO and DSOs have monopolies over pipeline routes and distribution areas. Due to increasing anti-fracking pressure on the UK government and the push for greater use of renewable energy sources, there has been a downward trend in exploration and appraisal activity in the gas industry
The gas utilities industry has faced continued pressure on prices and supply chain disruption as a result of the coronavirus pandemic. Lockdowns caused the closure of industrial facilities, which resulted in a large drop in demand, far outweighing any increase in home use of gas utilities. However, global reopening up in recent months has boosted the recovery of the industry somewhat.
Because the residential segment accounts for the highest share of gas consumption, the performance of the industry can vary greatly based on weather fluctuations, which usually peaks in winter as space heating demand increases.
The UK plans to create the world’s first zero carbon gas grid by speeding up the switch from natural gas to hydrogen for the high-double digit percentage of UK households connected to the gas grid. The UK’s ‘Gas Goes Green’ initiative to coordinate and implement the changes needed to convert the UK’s gas network infrastructure to run on hydrogen and biomethane. The transition will help gas remain an essential fuel for UK energy consumers while helping the country reach its zero emissions target by 2050. However, the transition is also expected to slow growth within the sector.
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Norway
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