Europe has managed to reduce natural gas consumption by more than the targets set last summer, but it may have to cut a lot more demand this year and in the coming years to offset the lack of Russian pipeline gas supply, avoid shortages, and balance the gas market. Faced with low Russian supply, and for many EU countries, zero supplies from Russia, Europe offset the decline in 2022 by lowering consumption by 57 bcm, McKinsey & Company said in an analysis this week. With further demand reductions and…
