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Free AccessEU Gas Demand to Fall 17% Below 2017-21 Average This Winter: ICIS
European natural gas demand is expected to be 17% below the 2017-2021 average, while a slow demand recovery is expected between 2024 and 2026 according to the ICIS Analytics Winter Gas Outlook.
- Wholesale prices above historic levels and inflation rates will continue to drive behavior-based changes this winter, as seen since the start of this winter, the report stated.
- European natural gas demand in the first nine months of this year stood 11% below 2022 levels and 17% below the 2017-2021 average.
- A large portion of the energy-intensive industrial production capacity in Europe will remain idled or operated below utilization rates this winter due to higher natural gas feedstock prices.
- Organic chemicals and ammonia production in Europe is expected to be operating at utilization rates at around 65-70% for the remainder of this year.
To read the full story
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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.