Europe & Russia: Consumption
Europe’s gas consumption is expected to grow strongly over the winter, supported by cold snaps at the start of the season.
Much of Europe saw below-average temperatures in October and November, boosting heating-related demand and the region’s overall gas consumption. The combined gas consumption of Europe’s six largest markets is expected to rise by 6% year on year during the winter (Q4-Q1). The latest forecasts suggest the peak winter period could bring largely average temperatures to the major gas markets. Last winter was mild, meaning even broadly average temperatures for the rest of this year’s winter could cause a year-on-year increase in heating-related gas use.