In Europe collapsed gas consumption

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From January to may, natural gas consumption in Europe dropped by 7 percent compared to the same period last year, and for the time of quarantine restrictions by 11%. This is evidenced by data from the International energy Agency (IEA), reports RIA Novosti.

A report from the organisation stated that the introduction of quarantine on March 11 to the end of may led to a decline in demand in absolute terms by 10 billion cubic meters.

The reason for this was to stop the industry and electricity production, household consumption was affected to a much lesser extent. In particular, electricity generation from gas in Europe has decreased by 20 percent compared to last year.

Meanwhile, the IEA noted that the quarantine restrictions is not the only factor. The impact of the warm winter and the rapid growth of wind energy.

The report also said that in the United States in the first five months, the demand for natural gas decreased only by 2.8 per cent, and in China even grew by 1.6 percent.

For Russia, falling demand in Europe was even more significant, since a collapse of demand in the region increased the share of deliveries of liquefied natural gas (LNG). Against this background, Gazprom has a monopoly on pipeline gas supplies abroad, the first time in history was a loss in the first quarter of the year.

IEA experts expect gas demand in 2020 could fall by 4 percent, or 150 billion cubic meters. It will be the biggest crisis in the industry’s history. The demand for the resource will begin to recover in 2021.

Video, photo All from Russia.

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