ANALYSIS – Demand has shrunk by a quarter in the past two months. But gas shortages in the Union could last for several years.
The energy crisis, exacerbated since the invasion of Ukraine by Russia at the end of February, is leading to a drastic review of behavior. The Member States of the European Union, which before the war imported 40% of their annual gas consumption from Russia, have already greatly reduced their needs. In November, as in October, gas demand in the EU was a quarter below the average for the past five years. In Germany and France, needs have been reduced by just over 20%, in the Netherlands, the drop in demand has reached a third, calculated the British firm Icis (Independent Commodity Intelligence Services).
“Industry is proportionally responsible for the largest reductions in gas consumption“, notes Tom Marzec-Manser, analyst at Icis. Tighter supply has caused prices to skyrocket, which “encouraged not to use to gas”, specified the gas specialist to the FinancialTimes. Number of industrialists, faced with the outbreak…
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