Europe's Natural Gas Consumption Falls Below 2022 Levels—Breaking a Decades-Long Trend

Europe now uses less natural gas than it did four years ago, a structural reversal from decades of rising consumption. The shift reflects both demand destruction from higher prices and accelerated industrial efficiency investments. Manufacturing sectors that depended heavily on Russian pipeline gas—chemicals, steel, aluminum—have either reduced output, relocated production, or switched fuels. LNG terminals now handle cargoes from Qatar and the US instead, with contractual relationships typically running 15–20 years.