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Europe’s Energy Evolution: Declining Gas Demand and Renewable Growth

In a recent report released by the Institute for Energy Economics and Financial Analysis (IEEFA) on Wednesday, it was revealed that demand for natural gas in Europe experienced a significant decline last year, dropping to its lowest level in a decade. This decline, amounting to a 20% reduction in consumption since the onset of Russia’s military invasion of Ukraine two years ago, marks a notable shift in Europe’s energy landscape. The report attributed the decline in gas consumption to several factors, including the growing installations of renewable energy capacity and measures implemented to enhance energy efficiency across the continent….