BAKU, Azerbaijan, September 5. During the first eight months of 2024, Europe cut its gas consumption ratio by about 2.7 times, Trend reports via S&P Global Commodity Insights.
The study was based on data from 24 European countries, including the United Kingdom.
"In January, the average daily gas usage was 1.6 billion cubic meters, but by August, it had decreased to 600 million cubic meters per day. For comparison, this consumption decreased by 100 million cubic meters per day in August 2024 versus August 2023," the study reads.
The analysts predict that gas consumption in Europe may shoot up come September, owing to the arrival of autumn and the anticipated drop in temperature.
In 2023, starting from October, the combined daily gas consumption of 24 European countries was around 0.8 billion cubic meters, peaking at 1.3-1.35 billion cubic meters per day in December.
Overall, Europe's annual gas demand is estimated to be between 400 and 500 billion cubic meters.
