Europe & Russia: Consumption
A severe cold snap has hit major markets in Europe, pushing up gas demand in the region. However, weather-related consumption is set to ease.
Key gas markets in Continental Europe were struck by severe weather in early January, with substantially below-average temperatures forcing up heating-related demand. Although more moderate temperatures are forecast to dominate in much of the region during February, the strong demand at the start of 2017 is expected to boost overall consumption for the early part of the year. Gas use by the six largest markets in Europe will rise by around 8% on an annual basis in Q1, according to GGA estimates.