MOSCOW, November 16. /TASS/. Gas consumption by member-countries of the European Union (EU) gained 5.1% year on year in October 2023 to 23.6 bln cubic meters, the Gas Exporting Countries Forum (GECF) says in its report.

EU gas consumption overall in January-October 2023 lost 6% annually to 264 bln cubic meters.

"In October 2023, the European Union (EU) observed a resurgence in gas consumption, marking a notable 5.1% year on year (yoy) increase to reach 23.6 billion cubic meters. This uptick was largely fuelled by a revival in the industrial sector. Meanwhile, in the United States, gas consumption swelled by 6.7% yoy, predominantly driven by the power generation sector. This increase can be attributed to a shift away from coal-based power, amplified cooling demand, and a decline in natural gas prices," experts say.

Pipeline gas imports to the EU rebounded by 27% annually in October 2023, reversing the previous month’s decline, and reached 13.7 billion cubic meters. LNG imports added 1.9% year on year and stood at 32.1 bln cubic meters, the GECF said.