Both European gas production and demand decline in Q2

According to the latest gas market report, EU gas consumption from April to June 2023 further declined (to 65 bcm) and remained below the five-year consumption range of 2017-2021. Production was down by 16% (9.5 bcm) than in the previous quarter and 17% less compared to the same quarter in the previous year. Total gas consumption decreased by 42% quarter-on-quarter (reflecting mainly the start of the summer season in gas trade), and by 8% year-on-year. EU domestic gas production continued to decline. The EU produced 16% less gas (9.5 bcm) then in the previous quarter and 17% less compared to […]