May 16, 2021

‘Dwindling trend’: Natural gas production in Europe plunged 23% last year

The Netherlands produced 24 bcm of gas (versus 33.7 bcm in 2019) followed by Romania with 9 bcm (10 bcm in 2019) and Germany with 4.9 bcm (5.7 bcm in 2019). 

In the fourth quarter of 2020, EU gas production reached approximately 13.7 bcm, 15% (2.4 bcm) less than in the same quarter of 2019.

“During the whole Q4 2020, similarly to the previous three quarters, gas output was below the 2015-2019 range, reflecting the dwindling trend of gas production in the EU. Over the last seven years, total EU gas production in Q4 2020 was the second lowest quarterly figure,” said the report.

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The EC also said the “widespread practice of teleworking might have contributed to the increase of natural gas consumption in the residential sector in year-on-year comparison.” 

EU gas consumption in the fourth quarter of 2020 rose slightly, by 1.3% (1.5 bcm) compared with the same period of the prior year, to an estimated 119.2 bcm. It was also up from the 71.9 bcm in Q3 2020, with the onset of the heating season in October.

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Article source: https://www.rt.com/business/520559-european-gas-production-decline/?utm_source=rss&utm_medium=rss&utm_campaign=RSS

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