Europe's gas demand will decline by 7% by 2030 — Ember report

According to a report by think tank Ember published on Tuesday, gas demand in the European Union will decrease by 7% by 2030 as the share of renewable energy increases and electrification continues.

The company’s experts analyzed the energy plans of EU countries. They found that gas consumption will fall to 302 billion cubic meters by 2030.  Since 2019, demand for the resource has already dropped by 19%.

The long-term reduction in gas consumption contradicts the EU’s plans to increase liquefied natural gas imports by 54% by 2030 as part of its strategy to phase out Russian pipeline fuel.

EU countries plan to double their wind and solar power capacity over the next five years. According to their plans, the share of electricity generation from renewable energy sources should reach 66% by 2030.

The European Union is confidently moving toward an electrified economy, says Ember's analyst Tomos Harrison. Therefore, there is no need to build excessive amounts of gas infrastructure. Sooner or later, these costly assets will become redundant. This should serve as a signal to industry, investors, and regulators, the expert added.