Oil and Gas Markets to 2025 - LUKoil
... growth of 2.2%, with much of this growth being driven by China. LUKoil sees that for Russia this is not good news as it is yet to complete any big gas deals with China, while its traditional European market is forecasted to persist in being difficult. Although European production will actually... ... 2020 the market will need an extra 50 bcm on top of the existing contracts as certain long-term contracts end, but supply will increase by 250 bcm in essence flooding the... ... contracts to be renegotiated more robustly. Lastly, Europe’s notorious Third Energy Package is set to split gas transmission and storage from commercial activities...