Europe began to save on gas

According to the Parisian consulting company Engie EnergyScan, gas consumption in Europe fell by 12% compared to the pre-pandemic level. The industrial sector has begun to reduce demand for natural gas, as record prices have made fuel too expensive for many consumers.

Germany, the Netherlands and the UK have so far reduced consumption the most, but analysts predict that this trend will continue, especially when the demand for gas for heating increases in the winter months.

There is also an opinion that high gas prices may slow down the economic recovery in Europe, as industrial consumers suffer from high fuel costs. Some enterprises were forced to temporarily cease their activities, while others were forced to significantly reduce production volumes.

Recall that the cost of gas in Europe has reached a historical record, getting almost close to the level of $2,000 per thousand cubic meters in early October. Then, after the words of Russian President Vladimir Putin about the possibility of increasing fuel supplies, gas began to become cheaper. The current price of natural gas is $1018.62.