BAKU, Azerbaijan, July 5. Europe’s gas production is expected to recover by almost 3 percent in 2022 on lower maintenance in Norway and the United Kingdom, leading to higher output, the International Energy Agency (IEA) says in its latest outlook, Trend reports.
Reportedly, Europe’s gas production declined by 3.5 percent in 2021, driven by lower output from the Netherlands, Norway and the United Kingdom.
“Overall gas production is set to decline by close to 1.5 percent per year between 2021 and 2025. Output is expected to remain broadly flat in Norway and Ukraine, while UK and EU output drops by 20 percent by 2025 compared to 2021 levels. In the Republic of Türkiye, the Sakaryia field is set to deliver first gas in 2023 and ramp up during 2024-2025,” reads the IEA report.
The report reveals that Eurasia’s gas production rebounded by over 10 percent in 2021, accounting for over half of incremental global gas supply.
“Strong recovery in domestic demand together with higher exports (primarily towards Asia) supported this strong growth. Gas production is expected to decline by over 12 percent in 2022 on lower domestic demand and Russia’s rapidly declining pipeline supplies to Europe. Russia’s rapidly deteriorating export prospects in Europe are expected to weigh on the region’s production outlook. Gas production is expected to recover by 1 percent per year between 2022 and 2025, but total output would remain 10 percent below 2021 levels by the end of the forecast,” says the IEA.
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