EU and UK look to security beyond gas
The scars of the Russia crisis have accelerated Europe’s push to wean itself off gas dependence as the growing globalisation of LNG becomes a double-edged sword
UK gas production peaked in 2000, with the country becoming a net importer and effectively globalising its gas security. Anticipating the need for growing gas imports, the country built three regasification terminals, and LNG fast became an essential component of the UK’s gas security. Today, the UK imports about half of the gas it consumes, with 30% coming via pipeline from Norwegian fields and almost 20% arriving as LNG, with a small volume of pipeline imports from continental Europe via the two interconnectors. Geopolitical factors are challenging market fundamentals when it comes to LNG flows There was a time when Qatar accounted for 90% of the UK’s LNG imports, but today the sit
Also in this section
15 May 2025
Financial problems, lack of exploration success and political dogma cause uncertainty across much of the region
14 May 2025
The invisible hand of the market has seen increasing transparency but much more needs to be done to build a better understanding
13 May 2025
A fall in Venezuelan output drives overall production lower, as Saudi Arabia starts to slowly bring more crude to the market
12 May 2025
With the gas industry’s staunchest advocates and opponents taking brutal blows, the sector looks like treading a path of insipid indifference
