Gas consumption in Europe in 2023 fell to lowest in 10 years

Gas demand in Europe decreased by 20 percent two years after the start of the armed conflict between Russia and Ukraine. This is evidenced by the data given by the Institute of Economics of Energy and Financial Analysis (IEEFA).

gas consumption in Europe last year has fallen to the lowest level over the past 10 years, since countries have turned to measures to increase efficiency and increased the use of renewable energy sources. This trend was primarily due to the fall of demand for gas in Germany, Italy and Great Britain, ”the IEEFA reported.

At the same time, from 2021 to 2023, the supply of Russian LNG to Europe increased by 11 percent.

“Deliveries to Spain have doubled, to Belgium – more than 3 times. Turkey and Greece began to import Russian LNG in 2022. Last year, 80 percent of Russian LNG imported to Europe, France and Belgium” , – says in the message.

According to Ana Maria Yaller-Makarevich, the IEEFA energy analyst, the energy system of Europe has become more diversified and more stable two years after the start of the conflict in Ukraine. “The crisis was to some extent to take control, measures to improve efficiency were enhanced, and the use of renewable energy sources and installations of heat pumps accelerated,” she said.

At the same time, the analyst believes that “Europe should learn lessons from past errors and avoid excessive dependence on the United States, which last year put almost half of the Imptions of LNG.”