EU gas consumption rises after two years, Russian gas imports also increase year on year

Gas consumption in the final quarter of last year rose by 1 %. This was the first increase in the past two years, during which Europe was first hit by an energy crisis related, among other things, to the shift away from imports of energy commodities from Russia. Gas imports from Russia nevertheless increased during the quarter, by 16 % compared with the previous quarter and by as much as 19 % year on year, European Commission data show. 

Following a positive report on rising natural gas consumption in the Czech Republic, similar news is now coming from the European Union. Gas consumption in the EU-27 rose for the first time since the fourth quarter of 2021.

At the European level, as in the Czech Republic, this is a relatively minor change. Consumption increased by just 0,6 %. Nevertheless, the report may indicate that lower natural gas prices on wholesale markets have at least brought the two-year downward trend to a halt.