Europe would benefit from the controversial $11 billion Nord Stream 2 (NS2) natural gas pipeline and additional gas infrastructure, even though demand is seen declining over the long term, according to IHS Markit. Indigenous European gas production, excluding Norway, also is set to fall, Stoppard said, from 98 Bcm in 2018 to about 76 Bcm by 2030. DIW said EU gas demand is currently at 400 Bcm/year. The other two-thirds of EU gas consumption, equally comprising space heating and petrochemical feedstock, isn’t likely to fall significantly by 2050. Declining EU gas production could be offset by increased LNG imports from a number of nations and higher North African pipeline gas imports, according to the global gas model.

Source: The North Africa Journal July 24, 2020 19:36 UTC