EU Slashed Demand for Gas by 20% Last Winter, above its Previous Goal

Publicado: Feb 22, 2023 17:22
The EU is now likely to fill its natural gas stocks to more than 50% when replenishment season starts, which could help rein in electricity prices this summer and improve energy security before the arrival of next heating season.

The European Union cut its gas demand by nearly a fifth last winter, exceeding a voluntary target of 15% set to help it get through the heating season amid a sharp drop in Russian gas supply.

Data released by Eurostat on Tuesday showed that the EU's gas consumption between August last year and January this year was 19% below the average of the past five years. Finland saw the biggest drop in demand, by more than half, with only Malta and Slovakia seeing an increase in demand.

The EU is now likely to fill its natural gas stocks to more than 50% when replenishment season starts, which could help rein in electricity prices this summer and improve energy security before the arrival of next heating season.

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EU Slashed Demand for Gas by 20% Last Winter, above its Previous Goal - Shanghai Metals Market (SMM)