Forecast: Natural Gas Energy Supply in the UK

The natural gas energy supply in the UK has experienced fluctuations over the past decade, with a subtle overall decline. In 2023, the supply stood at 2.738 million terajoules. Year-on-year variation shows consistent minor declines and slight upticks, with a notable 12.59% increase in 2016. Over the last two years (2022-2023), supply saw variations of 4.66% and -0.56% respectively. The five-year CAGR averages a slight negative growth at -0.8%. Future forecasts indicate a continued gentle decline, with a projected -0.46% CAGR and an overall -2.3% growth rate by 2028.

Future trends to watch include technological advancements in natural gas extraction and a potential shift to renewable energy sources, which may further impact the supply dynamics. Additionally, policy changes and economic factors will play vital roles in shaping the future landscape of natural gas energy in the UK.