Europe & Russia Consumption

Gas will face increased competition in the European power sector this summer, which is expected to weigh on overall demand.

Europe’s gas consumption is expected to fall on an annual basis during the peak of summer. A late winter cold spell supported demand growth at the start of Q2, but weaker offtake from the power sector is set to hit overall European consumption between June and August.

Weak hydropower output supported demand for gas-fired generation in southern Europe in summer 2017. However, hydro availability is expected to...