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EU Industrial Gas Demand To Decline 27% This Winter: BNEF

NATURAL GAS

Industrial natural gas consumption across Europe’s largest economies over the November-March period is forecast to fall compared to previous years.

  • European industrial gas demand during November-March is forecast to be 27%, or 12bcm, lower than the 2016-2020 average.
  • The effect of high natural gas prices will increasingly drive gas demand destruction.
  • Governments often perceive a mandate on heavy industry to reduce consumption as an easier lever to pull than, for example, prompting homeowners to turn down their thermostats.

Source: Bloomberg

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