In France, natural gas accounts for 15% of the total energy consumption, which is expected to grow further. This is attributed to its new uses like natural gas-powered heavy-duty vehicles and combined heat and power production. Also, the country has diversified supply sources. In addition, it benefits from methane terminals that facilitate increased imported quantities.
With regard to trade, France is one of the major LNG importers in the European Union. In 2017, it was the third-largest LNG importer in Europe. At the time, since 2017, the country has produced only 1% of what it consumes. As a result, there are no exporting terminals in France. The significant imports are from Algeria, Russia, the Netherlands, and Norway. Besides, the French gas network has an entry capacity of 72% for cross-border gas pipelines. The remaining capacity is for the four existing LNG import terminals in the country.
Further, the French LNG terminals are evaluated to witness a growing number of LNG deliveries amid high prices. In terms of market prospects, the economy is highly market-oriented. It is also the seventh-largest economy in the world by 2020 nominal figures. Service is the largest contributor to the country’s GDP.
Moreover, it is one of the global leaders in the railway, aerospace, and automotive sectors. Besides, natural gas is used as fuel for railways, in ships for overseas transportation, and large-loaded trucks for long-term transportation. Such factors make France a conducive market for LNG.