Europe’s natural gas consumption to be lowered due to COVID-19 outbrake, SEE Energy News
Europe’s gas demand for last year is calculated at 554 billion cubic meters and 2020 forecast is now revised to 556 billion, down from 560 billion cubic meters before coronavirus-related restrictions were put in place. European natural gas demand in 2020 is likely to drop by 0.7 % compared to the pre-coronavirus forecast according to energy research company Rystad Energy. Growth will be limited to just about 2 billion cubic meters year-on-year, significantly lower than previous expectations for a 6 billion cubic meters increase.
Rystad Energy’s most likely scenario assumes most of the European countries go into lockdown for 30 days during the two-month period of March and April. As people stay home and businesses close, demand will decrease for electricity generation, as well as in the industrial, commercial and residential sectors.