The historical data on natural gas extraction turnover in the UK demonstrates notable fluctuations over the past decade, with recorded values peaking in 2017 and subsequently declining. In 2023, the turnover stood at 179.3 million euros, marking a year-on-year decline of 1.21%. The compound annual growth rate (CAGR) over the last five years was -0.18%, indicating a modest average yearly contraction.
Key Year-by-Year Variations:
- 2016: Significant -10.91% decline
- 2017: Sharp 29.1% increase
- 2018: Pronounced -20.52% drop
- 2019-2023: Gradual variation within -2% to +4%
Looking forward, from 2024 to 2028, forecasts indicate a continued decline in turnover, with an expected forecasted CAGR of -1.04% and an overall projected reduction of -5.09% over five years. Key future trends to monitor include regulatory changes, advances in extraction technology, market demand shifts, and global energy prices, all of which can significantly impact the natural gas industry's financial outlook.