Europe & Russia: Consumption
European demand looks set to be weak in Q4 as consumption falls in large markets, weighing on total regional gas use at the start of winter.
Temperatures in much of Europe are forecast to be around or above average through the start of Q4. This will hit requirements for heating-related gas use and is expected to weigh on the region’s total gas consumption. With declines anticipated in some of the region’s largest markets, total regional demand looks likely to be broadly flat year on year during the quarter.