Europe seeks to boost indigenous gas production – but is it too little, too late?

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LNG has turned into Europe’s knight in shining armour, as the continent shifts away from Russian pipeline gas, but persistently high natural gas prices have also led some European countries to double down on domestic hydrocarbon exploration and production. From Italy to the North Sea, and from Romania to the eastern Mediterranean, governments hope additional indigenous gas volumes can ease their nagging anxiety over energy security. However, critics point out that efforts to boost gas production in Europe will not only distract from its decarbonisation drive and need to support renewables, but also offer too little, too late.

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