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IEA: Europe’s Gas Demand Set To Decline In Favor Of Coal

Europe’s natural gas demand is set to decline this year as buyers begin to favor lower-priced coal, the International Energy Agency said in the latest edition of its quarterly gas market report. According to the IEA, gas demand on the continent is seen declining by 4 percent this year, after rising by more than 5 percent last year.

The decline will be partially driven by a reduction in gas burning in the power sector, the agency said, which is seen declining by 6 percent this year. The decline will be partially compensated by renewables,…

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