In 2023, the UK's natural gas gross heat production was recorded at approximately 1.52 million tonnes of oil equivalent. Forecasts for 2024 to 2028 suggest a gradual increase in production, reaching 1.64 by 2028. The year-on-year growth rates demonstrate a steady increase, with approximately 1.95% in 2025, 1.27% in 2026, 1.89% in 2027, and 1.23% in 2028. On average, the compound annual growth rate (CAGR) from 2023 to 2028 is estimated around 1.54%.
Future trends to watch for:
- Potential shifts in policy towards renewable energy which could impact natural gas production levels.
- Technological advancements in extraction and production efficiency.
- Market responses to geopolitical shifts that could affect global energy supply dynamics.