The report, titled “The LNG lifeline​: Will cheaper global gas resuscitate European industry?​” reveals that the prize for the European economy could be substantial. Energy cost savings equivalent to 1% of EU gross domestic product in 2025 could provide material support to the bloc’s sluggish economy. European iron and steel production – on the defensive for years, along with chemicals – could be thrown a lifeline, with cheaper energy enabling them to hold their ground in European markets. Pharmaceuticals and the food industry, meanwhile, would be in a position to regain ground, or even accelerate, production and capture a greater share of international markets.