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SUPPLY
Germany produces oil and gas from 3 regions – the
northwest bordering the North Sea, the Alpine foreland, and modest
amounts from the upper Rhine graben.
Production of oil peaked in 1968 and, despite intensive efforts to
recover greater amounts of oil from its aging fields and to develop its
offshore region, which saw some growth owing to output from the
Mittelplate field in the last decade, overall decline has generally
continued. There is no chance that this can be reversed over the long
term.
Gas production peaked in the 1970s and was at plateau for many years but
is now falling.
DEMAND
 Germany
is one of the biggest consumers of oil in the world. It imports most of
its oil and consumption is unlikely to increase significantly after the
dip that commenced in 2007. High prices and the recession have quelled
demand growth and the country is looking to reduce its dependence on
oil.
Germany also imports significant volumes of gas from Western Europe and
Russia. Gas consumption will increase slowly, primarily directed at fuel
substitution and the need for cleaner burn strategies in producing
electricity.
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