Understanding the European industrial gas demand drop

European industrial gas demand was hit hard during the 2022 energy crisis. Recovery has been slow in 2023, despite a steep drop in gas prices since late 2022. One of the enduring mysteries of the European gas market landscape has been the relative lack of recovery in industrial gas use following the 2022 global energy crisis, despite a steep drop in gas spot prices in 2023 from the previous year’s records. Source: Anne-Sophie Corbeau & Akos Losz