European Reliance on Russian Gas and Shift to LNG – Overview, Challenges and Case Studies
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European Reliance on Russian Gas Shift to LNG Report Overview
The European natural gas demand is expected to reach more than 440 bcm in 2030. This represents a negative CAGR rate of more than 5% between 2022 and 2030. This negative growth reflects the region’s shift away from natural gas as it diversifies its energy mix. However, despite this drop, demand will continue to exceed supply. Most of the demand will be met by domestic supply.
Due to its reliance on natural gas via pipeline, Europe currently has an underdeveloped LNG infrastructure. For example, the bloc’s largest economy, Germany, did not have an active LNG regasification plant before December 2022. As a result, European countries have been increasing their LNG import capacity primarily through constructing floating LNG storage and regasification units.
The “European reliance of natural gas on Russia“ market research report will help to obtain the most up-to-date information on recent developments and policies regarding Europe’s reliance on Russian gas and its LNG adoption. The report will also assist in identifying opportunities in upcoming projects involving LNG infrastructure in Europe.
Europe Gas Market Outlook, 2015-2030
Market Demand of Natural Gas (2022) | >440 bcm |
CAGR | <(5)% |
For more insights into the European reliance on natural gas in Russia, download a free report sample
European Dependence on Russian Gas
Russia has been Europe’s biggest supplier of natural gas for several years, creating significant gaps in supply in the wake of the conflict. Oil and gas pipelines have created high dependencies on Russian gas in central and eastern European states. Europe’s gas demand will continue to outpace domestic supply. Thus, Europe must find other natural gas suppliers to wean itself off Russian while maintaining energy security
In addition, imports from countries such as Norway and the US have grown in recent years, especially between 2018 and 2021. However, reliance on Russian gas has also continued to rise. The bloc plans to wean itself off Russian gas imports as early as 2027. However, due to its previous reliance, the EU is now posed with the challenge of balancing energy security with its decarbonization goals.
EU Transnational Deals by Fuel Type, March 2022 – January 2023
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European Policy Response to The Russia-Ukraine Conflict
There has been an increase in deal activity as the bloc continues to decrease its reliance on Russian gas. Since the start of the Russia-Ukraine conflict, the European bloc has completed several energy deals, with the bulk of these deals relating to natural gas. Out of all the European countries, Italy has been the most active between March 2022 and January 2023 with a view to replacing its reliance on Russian gas, which constituted more than 43% of total gas supplies in 2020.
For more insights into the policy response on the Russia-Ukraine conflict, download a free report sample
Europe’s Shift to LNG – Challenges
Although LNG imports will help alleviate energy insecurity, the switch holds many challenges. Limited regasification capacity is one of the key challenges. For instance, many countries within Europe lack regasification capacity, which limits the extent to which they can swap natural gas for LNG imports. For example, Europe’s largest economy Germany had no LNG regasification plant in operation before December 2022.
For more insights into the challenges to the shift to LNG, download a free report sample
Scope
European dependence on Russian gas, European policy response to the Russia-Ukraine conflict, Europe’s shift to LNG.
Reasons to Buy
- Obtain the most up to date information on recent developments and policies about Europe’s reliance on Russian gas and its LNG adoption.
- Identify opportunities in upcoming projects involving LNG infrastructure in Europe.
- Assess the landscape of European countries’ dependency on Russian gas important and LNG import capacity.
- Develop business strategies by identifying the most promising sectors for future growth.
ADNOC
Gasgrid Finland Oy
Excelerate Energy
Uniper
Open Grid Europe
Gaunsie
RWE
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Frequently asked questions
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What will be the European natural gas demand in 2030?
The European natural gas demand is expected to reach more than 440 bcm in 2030.
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Why does Europe need to find other natural gas suppliers than Russia?
Europe’s gas demand will continue to outpace domestic supply. Thus, Europe must find other natural gas suppliers to wean itself off Russian while maintaining energy security.
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Which European country has been the most active in energy deal activity?
Italy has been the most active between March 2022 and January 2023 with a view to replacing its reliance on Russian gas, which constituted more than 43% of total gas supplies in 2020.
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