Spain's natural gas production has shown significant fluctuations over the past decade. From 2013 to 2023, production ranged notably, peaking in recent years. In 2023, production stood at 120.6 Thousand Tonnes Of Oil Equivalent, marking a 17.27% increase year-on-year compared to 2022. The average annual growth rate (CAGR) over the last five years is 9.82%, reflecting an upward trend despite some volatility.
For the future, from 2024 to 2028, forecasts suggest a steady increase in production with an average annual growth rate of 1.54%. By 2028, production is expected to grow up to 132.98 Thousand Tonnes Of Oil Equivalent, illustrating a growth rate of 7.96% over this period. Although the annual increases are expected to be modest, the overall trend is positive.
Future trends to watch for include:
- Technological advancements in extraction methods.
- Changes in governmental policies and regulations affecting production.
- Global market dynamics and their impact on Spain's natural gas exports.
