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EU Industrial Gas Demand Destruction To Last: Engie

NATURAL GAS

European industrial gas demand destruction caused by higher prices following Russia’s invasion into Ukraine is expected to persist, Engie CEO Catherine MacGregor said.

  • “Depending on the size of these customers today, we have not seen the demand recovery from what happened last year,” MacGregor said.
  • “We have a range of 10% to 20% demand destruction, depending again on the type of activities of our customers, and we think that this is here to stay to a large extent.”
  • “We don’t think that it will worsen, but we think it’s quite structural,” MacGregor added.

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