Brussels, 02/10/2014 (Agence Europe) - Gas demand in the EU saw an 18% fall in the first half of 2014 compared with the same period in 2013, and it is expected to fall by 9% for the whole year compared with 2013, according to the latest forecasts from the Eurogas association, published on 1 October. Based on normal weather conditions in the second half of 2014, the EU's gas demand (plus that of Switzerland) will correspond to an annual consumption of 4,500 terawatt-hours or 417 billion cubic metres in 2014.
The distinct contraction in consumption in the first half of this year is mainly due to the mild temperatures that have directly reduced the demand for heat in the trade and residential sectors - where a strong fall has been recorded. The mild weather combined with the slow economic recovery also led to a drop in demand for electricity - which contributed to a fall in gas demand for electricity production. Other factors also contributed to this contraction - low coal prices coupled with a weak carbon price and a growing share from renewable energy (including a high hydroelectricity contribution) in electricity production.
These estimates are the result of an annual survey focusing on 94% of the EU's gas market. Eurogas represents companies and associations engaged in the wholesale, retail and distribution of gas. (EH)