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EU Gas Demand To Exceed Supply Until 2030

NATURAL GAS

Europe’s natural gas demand will increasingly exceed supply until 2030, making the region a key player in the market for the fuel, Shell Plc said in its LNG Outlook.

  • The supply gap may widen to about 140mn tons of LNG by 2030 from around 50mn tons in 2018.
  • “Europe’s increased need for LNG looks set to intensify competition with Asia for limited new supply available over the next two years and may dominate LNG trade over the longer term,” Shell said.
  • Global LNG markets will remain tight to the mid-2020s amid limited new LNG supplies.
  • Europe increased LNG imports by 60% last year, following the decline in Russian pipeline imports.

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