Belgium is an industrialized nation, with a GDP comprising of industry, agriculture, and service sectors. It was also the first country to undergo an industrial revolution in Europe. Since then, it has developed excellent transportation infrastructure of highways, canals, ports, and railways to integrate its industry with neighbors. Besides, the country majorly relies on world trade, with exports equaling over two-thirds of GNP. Its central geographical location is one of its significant trade advantages.
The country has a high energy usage, with renewable and natural gas dominating the primary energy consumption in 2020. Additionally, there have been investments in renewable energy sources and natural gas with regard to minimizing carbon footprint and climate crisis.
Moreover, Belgium is a key transit hub for northwest Europe and a bridge between the British and mainland European gas markets. In addition, as per estimates, it is inclined to export more natural gas than normal to Germany and the Netherlands.
Belgium has the Zeebrugge LNG terminal, built on a man-made island and located along the northern part of the Belgian coastline. It is one of the few terminals worldwide that accepts all types of LNG carriers.
At the same time, natural gas consumption in Belgium has witnessed fluctuations due to the impact of the pandemic. However, the CAGR of consumption projects positive trends. Though its natural gas production is zero, given the lack of extraction sites.