Europe to import 98% of gas by 2050

Wood Mackenzie expects Europe to become dependent on importing more than 98% of its natural gas needs by 2050 if it does not make substantial investments in local production. Various scenarios indicate that European production will not keep pace with demand, with imports—especially of liquefied natural gas (LNG)—remaining dominant in the market. The share of LNG is projected to rise from 40% currently to 63% by 2050, with 77% of those supplies relying on the United States. The forecasts highlight that the increasing global trade in LNG, which could reach 800 billion cubic meters annually by 2031, underscores the need for significant investments to reduce dependence on imports—particularly as supplies from Norway and North Africa decline—making boosting domestic production a key option for enhancing Europe's energy security.

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