European natural gas demand will slump next year as high prices drive nations to enact energy-saving measures amid Russian supply curtailments, according to the International Energy Agency.
High gas prices will result in European consumption falling by 4% in 2023 after slumping by a record 10% this year, the IEA said in a quarterly gas report. Declines are most pronounced in the industrial sector, but are also evident in power generation, pushing global gas demand down by 0.8% this year.
