GLOBAL ENERGY MONITOR REPORT | MARCH 2024 | 3 EUROPE GAS TRACKER REPORT 2024 EXECUTIVE SUMMARY As Europe emerges from the second winter since Rus- stranded assets, as the region plans to sharply reduce sia’s invasion of Ukraine, the region appears to be in a greenhouse gas emissions in the coming years. [...] As the threat of gas shortages passes and overall gas Meanwhile, the EU has made significant progress demand is on the decline, new gas import projects are toward achieving its goals in the REPowerEU plan. [...] The price tag of Europe’s planned gas buildout is €84.1 billion GEM estimates that the total capital expenditure in As Europe plans to decarbonize over the coming new European gas infrastructure could be €44.4 billion decades, continued investment in new gas infrastruc- for LNG terminals and €39.7 billion for gas pipelines, ture, built to last for decades, increases the risk that for a total of €8. [...] The IEA’s 2023 World wave of new LNG terminals represents a strategic shift Energy Outlook finds that gas demand in Europe will toward LNG imports for energy security, but Europe fall by 28% by the end of the decade, from 544 bcm in already has enough LNG import infrastructure to meet 2022 to 390 bcm in 2030, if countries meet their climate its needs, for now and for the future. [...] Central European Hydrogen Corridor, the H2ercules Pipeline, the West Danish Hydrogen Network, the Bel- According to GEM’s Global Gas Infrastructure Tracker, gian Hydrogen Backbone, the Nordic-Baltic Hydrogen about 35,000 km of hydrogen transmission pipelines Corridor, and the Nordic Hydrogen Route.
- Pages
- 24
- Published in
- United States of America
