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EU + UK Gas Demand Trends Well Below Historical Average

NATURAL GAS


  • As gas prices soared to record levels in response to an unprecedented supply crunch this year, overall European gas consumption dropped 24% year on year in the first ten months, helping to roll back some of the gas price premium gained over the summer.
  • In Germany, one of Europe’s largest fertilizer and petrochemicals producers, industrial gas demand fell 32% over the six-year average in October.
  • In October, Germany’s combined industrial, electricity generation and LDZ consumption was down by 27% over the six-year average.


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