Interactive: EU Energy security

By Anthony Jaep, Camilla Renner, Vincent Lattion

S&P Global CERA Upsteam experts project an 84% decline in Europe’s domestic gas production from 6.9 Tcf in 2024 to 1.1 Tcf by by 2050. This will lead to greater reliance on imports and raising energy security concerns as the continent undergoes a significant shift in its energy landscape. Despite the overall decline, there are notable domestic success stories. Norway is producing at record levels, Denmark became a net exporter in 2024, and Cyprus’s recent discoveries offer long-term energy security potential.

While Norway’s hydrocarbon sector is underpinned by a stable and predictable fiscal framework, countries such as the UK and Russia score higher on the hydrocarbon sector entry index. In the UK, this is partly attributable to recent fiscal volatility, including changes to tax terms and the introduction of windfall taxes.

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