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EU November Gas Demand Up 3% YoY: ICIS

NATURAL GAS

EU + GB natural gas demand in November rose by 3% year on year, driven by an increase in residential/commercial and industrial demand, ICIS data showed.

  • November industrial gas demand rose by 9% above 2022 levels while residential/commercial demand exceeded last year’s levels by 10%. Demand for power generation lagged last year’s levels by 19%.
  • November gas consumption lagged the 2017-2021 average by 20%, with the largest reduction gas demand for power generation by 28%. Industrial and residential/commercial demand fell by 22% and 15% respectively against the average.
  • Gas demand in the first eleven months of this year stood 8% below 2022 levels and 17% below the five-year average.

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