In 2023, the UK had an opening stock of natural gas of 46.98 thousand terajoules. Forecast data from 2024 to 2028 suggests a consistent decline in natural gas stocks, starting at 41.48 in 2024 and decreasing steadily to 20.67 by 2028. This equates to an average annual decrease, or CAGR, of approximately 15% over the five-year period. The year-on-year decreases illustrate a significant trend reflecting reduced reserves or increased consumption.
Future trends to watch for include:
- UK energy policy changes influencing natural gas supply and demand
- Technological advancements in renewable energy impacting natural gas reliance
- Volatility in global energy markets affecting import and export strategies
- Environmental regulations driving shifts towards sustainable energy sources
