Europe urged to tap into domestic gas reserves

Europe's energy security challenges have been exposed by recent geopolitical crises, and nowhere is this more evident than in its gas supply. According to the International Energy Agency, Europe only produced 221bcm of natural gas in 2024 but its consumption that year was more than double that, standing at 490bcm. Could the continent’s untapped gas reserves provide an alternative to a reliance on unreliable foreign suppliers?

Reporting by Alina Trabattoni, Italy Correspondent, Montel.

Contributor: Davide Tabarelli, President, Nomisma Energy.

*Correction – Currently, the EU imports almost 90% of the gas it consumes annually, but if these five fields were exploited, that import reliance would drop.