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European Gas Demand Set to Slip m/m in August

NATGAS

European industrial and residential-commercial (res-com) demand is set for month-on-month declines in August according to ICIS.

• Focusing on the 12 major hubs in western and central Europe, ICIS Gas Foresight predicts a m/m drop of 2.9% in industrial demand and a 0.2% fall in res-com.

• Combined, their year-to-date demand has been 19% lower than the 2017-2021 average. August is peak holiday season for several EU countries and industrial activity will be reduced as a result.

• Weaker demand has been a significant contributing factor supporting European gas injections this year.

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