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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.
NATGAS
European gas demand continued its downfall in the first half of 2024, primarily due to collapsing gas-fired generation and lower gas use in buildings according to IEA analysis.
- European gas consumption dropped by an estimated 3% in H1 2024 compared to the already decade low 2023 levels.
- The key driving force was from the power sector, where gas burn plummeted by more than 20% y/y.
- The strong expansion of wind (13%) and solar (15%) played a key role but the single most important driving force was hydro – up 25% y/y.
- Hydro added more than 55 TWh of electricity to the European power mix and effectively squeezed out gas-fired generation in hydro-rich markets (such as Italy).
- In contrast, gas demand in industry continued to recover in H1 2024 and rose by over 10% y/y but remained well-below its pre-crisis levels.
Source: IEA
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.
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