Weak European Industry Is Keeping Gas Demand Depressed
- Gas demand drops again in May: S&P Global Commodity Insights
- Collapsing gas prices have failed to revive consumption
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Industrial demand for gas in Europe’s largest nations remains depressed despite lower prices, as an economic slowdown weighs on consumption and customers pivot toward renewable energy.
Demand for the fuel in Germany, Italy, the Netherlands, France, Spain and the UK fell 9.7% in May from a year earlier, according to data from S&P Global Commodity Insights. That means consumption is lower than levels last year, when the European Union was trying to conserve gas ahead of the winter.