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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
NATURAL GAS
EU saw a substantial 12% year-on-year decline in gas consumption in July 2023 to reach 18 bcm according to the August Gas Exporting Countries Forum report. The rise in renewable energy production, especially solar, contributed to a reduced reliance on gas in the EU's power generation mix.
- Natural gas consumption within the power generation sector declined by 15% year-on-year in H1 2023 despite phasing out of nuclear in Germany, low nuclear availability in France, and increased coal-to-gas switching from lower gas prices in early 2023.
- Industrial sector's demand has not yet returned to levels observed in previous years despite the decrease in gas prices throughout July.
- For the period from January to July 2023, EU's gas consumption fell by 11% y-o-y, reaching 197 bcm.
- China's apparent gas consumption surged by 11% year-on-year in July, totalling 33 bcm.
- Gas consumption in the US increased by 0.2% year-on-year to 73 bcm.
Source: Gas Exporting Countries Forum
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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