The natural gas energy supply in Spain has shown significant variations over the past decade. Starting at 26.16 million tonnes of oil equivalent (MTOE) in 2013, the value declined but then saw a notable increase from 27.27 MTOE in 2017 to peaking at 30.9 MTOE in 2019. The supply was 29.42 MTOE in 2023.
Over the past two years, the year-on-year variation was -0.2% in 2022 and 0.22% in 2023, showing minor fluctuations. The Compound Annual Growth Rate (CAGR) over the last five years stood at 1.67%, signaling a generally stable upward trend despite short-term volatility. Future predictions forecast a modest CAGR of 0.16% from 2024 to 2028, indicating a stable yet very slow growth trajectory.
Future trends to watch for:
- Potential fluctuations in natural gas prices impacting the supply levels.
- Government policies on renewable energy affecting natural gas usage.
- Technological advancements in energy efficiency and alternative energy sources.
- Global geopolitical dynamics that might influence energy imports and exports.
