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EU Gas Use Falls 10% Amid Weak Industrial Demand

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Total natural gas consumption in the EU during the first 10 months of 2022 has dropped by roughly 10% compared with average consumption over the previous three years following a slump in industrial and residential demand, according to data from consultancy Bruegel. High gas prices and milder temperatures helped pull gas consumption lower but it is still short of an EU gas saving target. Brussels set an EU-wide gas reduction target of 15% compared to the average consumption over the last five years to ensure the bloc can safely get through the higher-demand winter period with limited Russian piped gas imports.

Topics:
Gas Demand, Gas Prices, Gas Supply, Gas Inventories, Gas-Fired Electricity, Ukraine Crisis
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