BAKU, Azerbaijan, December 21. The European gas market in 3Q2024 displayed mixed trends across the bloc.
Overall, according to the data obtained by Trend from the European Commission, gas consumption in the EU saw stabilization in the year-on-year comparison, reflecting the continued adaptation of member states to new energy realities. However, significant variations were observed at the national level, with consumption increases in 10 member states and decreases in 16.
In a year-on-year comparison, gas consumption decreased in 16 member states, with the most significant reductions observed in:
- Portugal (-29%)
- Lithuania (-16%)
- Spain (-11%)
- Denmark (-10%)
- The Netherlands (-8%)
These declines reflect continued energy efficiency measures, a growing shift towards renewables, and demand-side adjustments following the energy crisis.
Conversely, 10 countries recorded year-on-year increases in gas demand. The most notable growth occurred in:
- Slovakia (+23%)
- Greece (+18%)
- Slovenia (+18%)
- Latvia (+16%)
- Luxembourg (+8%)
Germany, the EU’s largest gas consumer, also recorded an increase of +7%, translating to an additional 688 mcm in volume terms. This rise was attributed to industrial recovery and increased energy demand post-recession.
On a quarter-on-quarter basis, gas demand decreased in 19 member states and rose in 7. The most dramatic quarterly declines occurred in:
- Estonia (-33%)
- Luxembourg (-33%)
- France (-27%)
- Lithuania (-25%)
These reductions are consistent with seasonal patterns, as gas demand typically drops during the warmer summer months. Increases were noted in Slovakia (+19%) and Greece (+18%), among others, driven by industrial and power sector demand.