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October 2012 - Oil and Gas

Demand for gas in the EU is expected to remain relatively stable in 2012 when compared to 2011, suggest the latest research findings from Eurogas – the body representing gas wholesale, retail and distribution sectors in the European Union.

Eurogas’ estimate relate to the results of a survey which covered 90% of the European Union’s gas market. However, the first half of 2012 registered a 2% drop in demand when compared with the same period in 2011; Eurogas put this down to the economics of power generation favouring coal and also to poor economic growth in that period. Coal was favoured due to its low price, which came about as a result of relatively low demand in the US and Asia. There is also a growing proportion of electricity being generated by renewables, which also ate in to the proportion generated by gas.

Particularly in the residential sector, Eurogas suggests that a slightly higher demand for gas may be expected in 2012 than in 2011 – especially if temperatures remain normal. Over the longer term, Eurogas expects gas to remain part of a realistic EU energy production portfolio due to its relative cleanliness and highly efficient, tested technologies.

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