There are significant areas of uncertainty for the European gas market in both the short and long-term. The long-awaited LNG push into Europe may be underway, and this would pose challenges for the commercial strategies of Gazprom and other pipeline suppliers. Trends for indigenous production are negative, with Dutch production being curtailed and offshore gas development in Romania delayed. Is there any prospect for unconventional gas to change the picture? In the longer term, existential questions remain regarding the future of gas in a low-carbon Europe. Can gas still have a major role despite EU mandates, or does the industry’s future rest on a gradual shift from methane to hydrogen?
Heat and power account for 60% of emissions globally. Renewables deployment has made some progress, however there is still a long way to go. Could hydrogen help in meeting mid-century emissions targets in the heat and power sectors?