Some of the lost European demand for natural gas due to the energy crisis and record-high prices could never return, Vitol Group's chief executive Russel Hardy said at the Energy Intelligence Forum in London on Tuesday
Some of the lost European demand for natural gas due to the energy crisis and record-high prices could never return, Vitol Group’s chief executive Russel Hardy said at the Energy Intelligence Forum in London on Tuesday. “For gas, demand has plummeted in Europe, with double-digit percentage reductions. We expect some of the lost demand to be permanent,” Hardy told the forum. “Gas and power had a terrible year for demand last year And it continues to be very difficult in Europe ...
The EU has also set a target for member states to reduce gas consumption. European demand for natural gas remained near the bottom of the five-year seasonal levels in August, helping inventories end the month at around 93% full, data from the Joint Organizations Data Initiative JODI showed on Monday. Gas demand in the EU was 12% lower in 2022 than the 2019-2021 average, driven by falling industrial and household gas demand, researchers at Brussels-based think tank Bruegel wrote last week.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Manchester United shares slump in pre-market trading after Qatari businessman withdraws from bid processIt emerged over the weekend that Sheikh Jassim bin Hamad al Thani will not go ahead with a takeover of the club, while Ineos billionaire Sir Jim Ratcliffe is set to buy a 25% stake.
Read more »
In pictures: Leicester lit up by giant glowing monstersA trail of nine monsters has been installed in Leicester in the run-up to Halloween.
Read more »
Giant Emirates plane 'stops mid-air in skies over Glasgow' in baffling videoThe video shared on TikTok show footage of an Airbus A380 during its flight from Glasgow to Dubai. However, due to a trick of the eye, it doesn't appear to be moving forward.
Read more »
Greater Manchester's pension fund invests £150m in property giantGMPF has over 414,000 pension members and pays over £750million of benefits each year
Read more »
Chinese EV giant BYD mulls buying Brazilian lithium mines'BYD will become like a Brazilian company'
Read more »
Chinese EV giant BYD mulls buying Brazilian lithium mines'BYD will become like a Brazilian company'
Read more »