EU natural gas demand to stay at current levels despite likely boost from power: IEA

EU natural gas demand is unlikely to rise from current levels in the coming years despite an expected boost in consumption from the power sector, the International Energy Agency said in its latest World Energy Outlook published Tuesday. At the same time, the EU is set to become increasingly import-dependent as domestic production slides by as much as 50% from current levels. “The power sector remains central to the long-term prospects of gas in the EU,” the IEA said, adding that the estimated 7% increase in EU consumption last year to more than 460 Bcm was driven by power generation. The IEA said that with many coal plants in the EU being retired in the coming decade and a more downbeat outlook for nuclear power, gas stands to benefit alongside renewables. “As a result, gas use in the power sector expands slightly in the period to 2040, and over […]

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