These include gas-saving measures enacted in public buildings, fuel-switching in rural households, the continued deployment of heat pumps, efficiency gains and behavioral changes.

'Non-weather-related factors explain the bulk of this demand reduction,' the IEA said. 'Lower gas burn in the power sector accounted for 70% of the overall reduction in gas demand in Q2, amid depressed electricity demand and stronger renewable power output,' it said.ĭistribution network-related demand fell by an estimated 8% year on year in Q2 despite a colder spring, with heating degree days in April and May standing 10% above their 2022 levels. The pace of demand reduction moderated from the 13% year-on-year drop experienced in Q1 to a 10% decline during Q2. It said gas use in industry is expected to continue its gradual recovery, 'albeit remaining well below its pre-crisis levels.'įor the first half of 2023, the IEA said European gas demand had fallen by over 10%, or more than 30 Bcm. In 2024, OECD's Europe gas demand is forecast to increase by a moderate 1.5%, as the expected decline in gas for power generation is not offset by higher gas use in other sectors, the IEA said. The IEA said that, considering the declines in the year to date, demand in the European residential and commercial sector is expected to fall by 4% in 2023. It was last assessed on July 17 at Eur25.65/MWh.

The benchmark Dutch TTF month-ahead price averaged Eur44.11/MWh in the first half, according to Platts pricing data by S&P Global Commodity Insights. Gas prices are currently well down compared with the first six months of the year. The new 7% decline forecast, the IEA said, is largely driven by lower gas burn in the power sector, which is seen down by 15% amid rapidly expanding renewables and lower electricity consumption.Īnd gas use in industry is expected to stay close to last year's levels, as lower gas prices enable demand recovery in the second half of the year, offsetting the losses in the first half, it said. In its previous quarterly report in May, the IEA said European gas demand was forecast to decline by 5% to 498 Bcm which was already a revision down from its previous forecast from February of 505 Bcm. In its latest quarterly gas market report published late July 17 alongside its annual gas security review, the IEA said European gas demand is now forecast to fall by 7% year on year in 2023 to 489 Bcm. Their disarming of Wagner reflects efforts by Russian authorities to defuse the threat they posed, and also appears to herald an end to the mercenary group’s operations on the battlefield in Ukraine, where Kyiv’s forces are engaged in a counteroffensive.Receive daily email alerts, subscriber notes & personalize your experience. While the fate of Prigozhin and the terms of the agreement remain cloudy, the Defense Ministry said Wednesday that Wagner was completing the handover of its weapons to the Russian military. Prigozhin called his mercenaries back to their camps after striking a deal to end the rebellion in exchange for an amnesty for him and his mercenaries, and permission to move to Belarus. The mutiny faced little resistance and fighters downed at least six military helicopters and a command post aircraft, killing at least 10 airmen. Valery Gerasimov, who demanded that Wagner sign contracts with the Defense Ministry by July 1. Prigozhin described the move as a “march of justice” to oust Russian Defense Minister Sergei Shoigu and General Staff chief Gen. It simply doesn’t exist,” he told Kommersant, adding that the government and the parliament have yet to discuss the issue of private military contractors.ĭuring the revolt that lasted less than 24 hours on June 23 and 24, Prigozhin’s mercenaries quickly swept through the southern Russian city of Rostov-on-Don and captured the military headquarters there without firing a shot, before driving to within about 200 kilometers (125 miles) of Moscow.

“There is no law on private military organizations. Putin also noted that Wagner has operated without legal basis. The Russian president has previously said that Wagner troops had to choose whether to sign contracts with the Russian Defense Ministry, move to neighboring Belarus or retire from service. Putin didn't say what proposal Wagner commanders eventually accepted, if any.

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