Europe Natural GasCompanies (2024 - 2029)

Europe Natural Gas Market Companies Summary

The European natural gas market, home to some of the oldest oil-producing countries, is expected to see significant growth in the upstream sector due to increasing investments in discoveries and production. Companies previously involved in oil and gas activities are now focusing on reducing greenhouse gas emissions, leading to the creation of more carbon-neutral models. These firms are leveraging various upstream technologies to minimize emissions, in line with the European Union's 2030 targets for zero carbon emissions by 2050. The increasing exploration activities and demand for reliable natural gas in Europe are likely to further fuel this growth. In recent years, Norway has witnessed a slowdown in oil and gas-related activities due to maturing fields. However, the country's vast oil and gas infrastructure, ranging from drilling and production platforms to pipeline networks, positions it as a dominant player in the European natural gas market. A contract awarded to an engineering firm by the Norwegian state-owned operator to modernize gas-receiving facilities indicates a potential for moderate growth in the midstream sector. The increasing production of natural gas in Norway is expected to significantly influence the European natural gas market in the forecast period.