EU reports lowest natural gas demand in 16 years

(CN) — After two years of declining demand for natural gas, the European Union reached a 16-year low for use of the fossil fuel last year, according to data published by Eurostat on Tuesday.

Decreases in demand followed the EU Council Regulation’s coordinated reduction measures, which the group passed in 2022 after Russia’s invasion of Ukraine.

As of 2022, natural gas and electricity made up two-thirds of the EU’s energy portfolio, with renewable energy representing a growing 10% of the total.

The EU imports 90% of its natural gas, but the bloc decreased its imports of the fuel by 19.8% over 2022 rates, hitting 18.4 million terajoules last year. (A measurement of energy consumption, one terajoule equals one trillion joules.)

The EU’s highest producers of natural gas, the Netherlands and Romania, each produced more than 350,000 terajoules in 2023, just about enough energy to satisfy demands from Hungary or Austria. Germany produced 143,532 terajoules of natural gas last year, about 3% of its nearly 3 million terajoule demand.  

The five nations that use the most natural gas reduced their consumption last year. Germany cut its use by 2.96 million terajoules, or nearly 4% of its overall demand, compared with 2022.

At the same time, Italy cut its natural gas budget by 10%, and France by nearly 12%, each adding up to a collective 3.6 million terajoule reduction.

Six member states reported increased natural gas use last year, with Finland’s use jumping more than 25% and Sweden’s by 11%.

Demand for natural gas dropped 13% in 2022 and a further 7% in 2023, bringing the EU's demand to 12.72 million terajoules for 2023.

Last year's levels of natural gas demand were the lowest in more than a decade and are comparable to usage rates from the mid-1990s.

Follow @bright_lamp