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UK Winter 2023/2024 Gas Demand to Edge Higher YoY

NATURAL GAS

Total natural gas demand in the UK this winter is forecast to edge higher by 1% year on year to 39.9bcm, driven by higher non-daily metered demand, while gas output for power generation will offset some of the gains according to the National Gas UK Winter Outlook.

  • Total GB natural gas demand this winter is forecast at 39.9bcm, compared with 39.5bcm a year earlier.
  • Non-Daily metered demand is forecast to rise by 8% year on year to 27.9bcm due to some anticipated changes in demand patterns by consumers amid a lower energy price cap.
  • Gas demand for power generation is expected to fall by 16.1% year on year to 7.8bcm, driven by lower expected power flows to Europe and an increased share of renewables generation in the power mix.
  • Interconnector exports to Europe are forecast to fall by over 50% on the year to 3.2bcm, down from 7.6bcm last winter.
  • The UK this winter will continue to be depended on LNG imports and Norwegian pipeline gas imports and in cold winter scenarios, the UK might require imports from the continent.
Energy BulletsCommodities
Energy BulletsCommodities

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