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EU Gas Demand Fell 20.9% YoY In January

NATURAL GAS

Natural gas con consumption in the EU member states fell by 20.9% against levels seen a year earlier according to Eurostat data.

  • A decline in gas consumption was mainly driven by lower heating demand amid temperatures well above the seasonal norm.
  • Gas demand in Spain fell the fastest by 29%, followed by Italy with 22%.
  • The REPowerEU plan, which aims to end dependence on Russian fossil fuels, aims for a 15% reduction in gas consumption in August 2022-March 2023 compared with the five-year average for that period.
  • Of the five biggest consumers — Germany, Italy, France, Spain and the Netherlands — only Spain has so far missed the 15% threshold, albeit narrowly.
Energy BulletsCommodities
Energy BulletsCommodities

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