The UK's natural gas production is projected to decrease steadily from 2024 to 2028. In 2023, actual production stood at a reasonably higher level compared to forecasted figures. From 2024 onward, production is forecasted to drop year-on-year by 4.92% in 2025, 5.08% in 2026, and 5.24% in 2027, eventually reaching 254.23 TWh in 2028. The compound annual growth rate (CAGR) over this five-year period reflects a consistent decline, attributed to decreasing reserves and a shift towards renewable energy sources.
Future trends to monitor include:
- Impact of UK governmental policies on renewable energy expansion
- Technological advancements in gas extraction
- Global market demand and price fluctuations