The liquefied petroleum gases (LPG) energy supply in Belgium experienced several fluctuations from 2013 to 2023. The supply reached 66.88 thousand terajoules in 2023, reflecting an increase of 3.08% from the previous year. Over the past two years, LPG supply showed a cumulative growth of 7.41%, demonstrating resilience amidst previous declines. From the years 2018 to 2023, we observed a compound annual growth rate (CAGR) of approximately 2.15%, signaling a stable upward trend after a period of volatility.
Between 2013 and 2017, the LPG supply experienced significant oscillations, including notable declines in 2016 and 2017. However, post-2017, the supply rebounded strongly in 2018. Despite minor fluctuations in the years following 2018, the trend has generally been positive, with steady increases observed in 2022 and 2023.
- Year-on-year variation in 2023: 3.08%
- Average annual growth rate over the last 5 years: 2.15%
Looking ahead, the forecast suggests a steady increase in LPG supply with an expected CAGR of 2.15% over the next five years. By 2028, the supply is projected to grow by 11.21% compared to 2023. Future trends to watch for include potential shifts driven by sustainability initiatives, advancements in energy technology, and regulatory changes.
