The forecasted natural gas domestic extraction in the UK shows a consistent decline from 0.42 metric tons per capita in 2024 to 0.31 in 2028. This indicates a significant downtrend, with an average compound annual growth rate (CAGR) suggesting declining production levels over the five-year period. Compared to the 2023 levels, this downward trend further emphasizes the challenges faced by the domestic natural gas sector. The year-on-year percentage decline highlights a steady reduction in output, reflecting broader moves towards energy transition and stringent environmental policies.
Future trends to watch for:
- Government policy shifts towards renewable energy and its impact on natural gas investments.
- Technological advancements in energy efficiency and alternative energy sources.
- Potential external factors such as geopolitical tensions affecting the UK’s energy supply chain.
- Public and market pressure on the UK to meet net-zero emissions targets.