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EU Gas Demand 26% Lower Than Average In November

NATURAL GAS

European natural gas demand in the first half of November has been 26% below the five-year average, according to ICIS.

  • EU gas consumption lagged five-year average levels by 24% in October and 14% in September.
  • The European Commission has called member states to reduce gas demand by 15% to the five-year average over the winter.
  • Temperatures above seasonal norms and lower industrial gas demand has weighed on the EU’s gas consumption. But recent weather forecasts point to colder weather, supporting demand expectations.

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